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Through the first two months of 2020, total and finished steel imports totalled 4.65Mt (net tons) and 2.99Mt (net tons), down 21.3% and 28.7%, respectively, versus the same period in 2019. Annualised total and finished steel imports in 2020 would be 27.9Mt and 18Mt (net tons), unchanged and down 14.7%, respectively when compared with last year’s figures.
Finished steel import market share was an estimated 15% in February and is estimated at 16% over the first two months of 2020.
Key finished steel products with a significant import increase in February compared to January are heavy structural shapes (up 57%) and tin plate (up 15%). A product with a significant year-to-date (YTD) increase versus the same period in 2019 was mechanical tubing (up 12%).
In February the largest volumes of finished steel imports from offshore were from South Korea (158kt, down 13% from January final); Turkey (73kt NT, up 44%), Japan (69kt NT, down 9%); Germany (52kt NT, up 7%); and Brazil (37kt NT, down 58%).
For the first two months of 2020, the largest offshore suppliers were South Korea (340kt NT, down 38% compared with the same period in 2019), Japan (146kt NT, down 37%); Brazil (126kt NT, down 16%), Turkey (124kt NT, up 23%) and Germany (100kt NT, down 54%).
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