U.S. steel imports increased 18.6 percent in July to 2.4 million tons compared to 2.035 million tons in June 2010, according to preliminary government reports, the American Institute for International Steel said Wednesday.
U.S. steel imports also increased 18.6 percent sequentially in July from June “The increased arrivals in July over June reflect improved market conditions in the second quarter when prices were strengthening and lead times stretching out at domestic mills for some products, including oil and gas related products,” said David Phelps, president of AIIS.
By The Numbers: ISM Monthly U.S. Manufacturing Index.
The data show that imported semi finished products increased by 512.1 percent in July 2010 from the same month last year. For the year-to-date period, semi finished imports increased from 668,000 tons in 2009 to 3.135 million tons in 2010, a 369.4 percent increase, based on preliminary reporting.
For the year through July, steel imports were up 25.7 percent or 2.47 million tons over the same period last year. Year-to-date steel imports increased from 9.6 million tons in 2009 to 12.1 million tons in 2010.
“While the product mix for imports has clearly shifted from 2009, it is interesting to note that the total increase in semi finished steel imported by domestic mills was also 2.47 million tons, representing 99.9 percent of the total increase during the year so far in 2010 compared to 2009,” said Phelps.
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