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Annualized total and finished steel imports in 2021 would be 31.8Mt and 22.8Mt, up 44.6% and 41.4%, respectively, versus 2020. Finished steel import market share was an estimated 24% in October and is estimated at 21% over the first 10 months of 2021.
Key finished steel products with a significant increase in imports in October compared to September are hot rolled sheets (up 13%) and sheets and strip hot dipped galvanized (up 12%). Products with a significant year-to-date (YTD) increase compared with the same period in 2020 were hot rolled sheets (up 123%), plates in coils (up 95%), wire rods (up 62%), sheets and strip all other metallic coatings (up 59%), cut lengths plates (up 58%), oil country goods (up 44%), cold rolled sheets (up 32%), hot rolled bars (up 26%), wire drawn (up 23%), sheets and strip hot dipped galvanized (up 22%), reinforcing bars (up 18%), and tin plate (up 17%).
In October, the largest volumes of finished steel imports from offshore were from South Korea (203kt, down 32% from September final), Turkey (149kt, up 26%), Vietnam (110kt, up 41%), Germany (83kt, down 6%) and Japan (80kt, down 3%). For the first 10 months of 2021, the largest offshore suppliers were South Korea (2.29Mt, up 38% versus the same period in 2020), Japan (830kt, up 25%), Turkey (824kt, up 66%), Germany (731kt, up 23%) and Taiwan (704kt, up 45%).
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