US Steel Imports Dropped in November

U.S. steel imports declined 5.5 percent in November from October, largely because of weak demand from Mexico, according to the American Institute for Imported Steel.

“Weak market conditions in November affected shipments especially from our NAFTA partner, Mexico,” said AIIS President David Phelps. “Weak market conditions in late summer and early fall also depressed arrivals from offshore suppliers.”

Year-to-date data continue to show the improvement in market conditions over late 2009, as import arrivals increased nearly 30 percent from November 2009.

“With the improvement in the steel market, including improved pricing and lengthening backlogs at domestic mills for many products in late 2010, we look forward to better conditions for imports in the months to come,” said Phelps.

Total steel imports in November 2010 were 1.8 million tons, a drop of 5.5 percent from 1.9 million tons in October 2010, and a 29.6 percent increase from November a year earlier.

Steel imports for the year to date increased 49 percent from the same period in 2009, from 14.8 million tons in 2009 to 22.1 million tons in 2010.

The data show that imported semi-finished products decreased from 367,000 tons in November 2009 to 289,000 tons in November 2010, a 21.2 percent decrease. For the year-to-date period, semi-finished imports increased from 1.758 million tons in 2009 to 4.705 million tons in 2010, a 167.6 percent increase, based on preliminary reporting.
(Source:www.joc.com)