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[Ferro-Alloys.com] Based on preliminary Census Bureau data, the American Iron and Steel Institute (AISI) reported that the U.S. imported a total of 1,370,000 net tons (NT) of steel in November 2020, including 1,181,000 net tons (NT) of finished steel (down 9.2% and 5.5%, respectively, vs. October final data).  Through the first eleven months of 2020, total and finished steel imports are 20,526,000 and 14,799,000 net tons (NT), down 22.1% and 24.9%, respectively, vs. the same period in 2019. 

Annualized total and finished steel imports in 2020 would be 22.4 and 16.1 million NT, down 19.8% and 23.3%, respectively, vs. 2019.   Finished steel import market share was an estimated 17% in November and is estimated at 18% over the first eleven months of 2020.

Key finished steel products with a significant increase in imports in November compared to October are tin plate (up 43%), standard pipe (up 27%), wire rods (up 21%) and sheets and strip all other metallic coatings (up 19%).

World steel consumption is likely to decline by 2.2pc in 2020 because of the Covid-19 pandemic and resulting economic downturn, but is expected to rebound by 3.8pc next year and then grow by 3.6pc in 2021, the OCE said. Steel production is expected to follow a similar pattern to consumption over the period.

China's September steel production was almost 40pc above the level a year earlier. "This has placed the country in a position of unprecedented dominance in steelmaking globally, with numerous other countries continuing to face manufacturing and steelmaking recessions," the OCE said.

Click here for more information: Ferrosilicon Daily Express 12.25