The American Iron and Steel Institute (AISI) reported a significant reduction in finished steel imports by the country in the previous year. This is based on full year 2020 trade data.
The country saw a 23.3% decline in finished steel imports for the entire 2020. According to the data, the total annual imports of finished steel amounted to 16.139 million tons in 2020. Imports of finished goods to the United States amounted to 21.051 million for the whole of 2019. Meanwhile, total steel imports fell 21.2% from 27.937 million net tonnes in 2019 to 22.019 million net tonnes this year, AISI reported.
According to AISI, imports of most of the metallurgical products declined from moderate to sharp during the year. Imports of line pipes showed the largest decline, falling nearly 61% from the previous year. Imports of petroleum products and rolled flat products decreased by 53.2% and 30.6%, respectively. The only product to see an increase in imports was tin, whose imports rose marginally by 1.7% compared to 2019.
Imports of finished rolled metal products from Turkey grew the most by 71.5% in 2020. In contrast, imports of finished goods from Japan dropped significantly by 35% over the year. Imports from Taiwan and China also showed a marked decrease compared to the previous year.