Washington, D.C. – Based on preliminary Census Bureau data, the American Iron and Steel Institute (AISI) reported today that the U.S. imported a total of 2,241,000 net tons (NT) of steel in November 2008, including 2,058 ,000 NT of finished steel (down 28 percent and 17 percent, respectively, vs. October final data). While total and finished steel imports through the first eleven months of 2008 are down, respectively, 5 and 4 percent vs. the same period in 2007, the monthly average for finished steel imports in the most recent 3-month period (September-November 2008) is up 9 percent vs. the monthly average in the previous 3 months (June-August 2008). Total and finished steel imports on an annualized basis this year are down 2 and 1 percent, respectively, vs. 2007. On an annualized basis, total imports of steel in 2008 would be 32.4 million NT.

Key products with a large increase in November compared to the month before are Cut Length Plates (up 33 percent), Mechanical Tubing (up 10 percent) and Oil Country Goods (up 6 percent). For the year-to-date in 2008, products with significant increases vs. the same period in 2007 include Oil Country Goods (up 90%), Hot Rolled Bars (up 13%), and Line Pipe (up 7%).

Source: American Iron and Steel Institute, December 23, 2008