U.S. steel imports fell by 3.5 percent in December 2013 compared to the previous month based on a preliminary review of government data by the American Institute for International Steel.
“Weak market conditions during the prior two-to-four month period, when imports would normally have been ordered, as well as trade cases, curtailed arrivals from non-NAFTA countries in December. We particularly saw these adverse effects on OCTG (oil country tubular goods), which is subject to an ongoing massive trade case, and in semi-finished products used by the domestic industry,” said Richard Chriss, the association’s executive director, in a statement.
“In addition, arrivals were tempered by many consumers and distributors who reduced purchases at the end of the year in order to lower inventory taxes due in some states,” he said.
For the full year 2013 compared to 2012, steel imports declined by 4 percent.
“The steel market in 2013 started weak due in part to uncertainty related to the federal government’s so-called fiscal crisis, which virtually eliminated the early seasonal improvement for the year. The market in 2013 never caught up after the disappointing start. The good news at this point in 2014 is that the normal seasonality appears to have kicked in, as demand and pricing have improved early in 2014. Whether this improved market has staying power at this point is hard to judge, though,” Chriss explained.
AIIS said total steel imports in December 2013 were 2.502 million tons, compared to 2.593 million tons in November 2013, a 3.5 percent decrease and a 1.4-percent increase, compared to December 2012. For the year-to-date period, imports decreased from 33.475 million tons in 2012 to 32.146 million tons in 2013, a 4-percent decrease.
The data also showed imported semi-finished products fell 9.9 percent in December 2013, compared to December 2012, from 685,000 tons in 2012 to 618,000 tons in 2013. For the year-to-date period, imported semi-finished products decreased from 7.649 million tons in 2012 to 7.322 million tons in 2013, a 4.3 percent decrease, the association said.
December steel imports drop 3.5%
