US steel imports declined in August 2012 by 10.9% MoM as compared to July 2012 based on preliminary reporting by the government.
Mr David Phelps president of AIIS said that “Steel imports continue to decline in the face of the headwinds of a softening manufacturing sector and US economy. The short up cycle experienced early in the summer evaporated quickly and import arrivals from both NAFTA and non NAFTA countries declined 10.4% and 12.2% respectively from July. This suggests that market conditions in 2 to 3 months ago when non NAFTA imports were ordered were similar to conditions facing our NAFTA suppliers for imports that arrived in August 2012 - NAFTA business is more coincident with domestic market conditions. The NAFTA decline in August suggests that imports will likely remain at these depressed levels in the near term at least - a result that is consistent with the AIIS monthly importer survey.”
For the YTD period in 2012 compared to 2011, steel imports increased by 16%.
Mr Phelps concluded that “While the totals for 2012 appear on track to register a solid increase for 2012 over 2011 consistent with the increase in the overall steel market, conditions as we enter the final quarter of the year do not provide much reason for optimism. The missing element for a return to health for the steel market remains the non residential construction, which has not recovered from the Great Recession as yet.”
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Source - American Institute for International Steel
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