AIIS: U.S. steel imports tumble in February

The United States imported 2.21 million net tons of steel in February, 16.5 percent less than January and 38.3 percent less year-over-year.    The United States imported 2.21 million net tons of steel in February, a 16.5 percent decline from January and a 38.3 percent drop from February 2015, according to the American Institute for International Steel (AIIS).
   Although February steel imports from Canada inched up 1.2 percent year-over-year to 456,000 net tons, steel imports from various other regions throughout the world declined from February 2015.
   Steel imports from Brazil tumbled by almost three-fourths from February 2015 to 116,000 net tons, while steel imports from Japan fell by more than half from to 115,000 net tons.
   Imports of steel from South Korea totaled 373,000 net tons and steel imports from the European Union reached 298,000 net tons, year-over-year drops of 22.2 percent and 45.3 percent, respectively.
   In addition, steel imports from Mexico sank 16 percent from February 2015 to 208,000 net tons.
   “While imports increased 10 percent from December to January, the February decline has dampened hopes that 2016 would start with increasing steel consumption and, hence, economic activity,” AIIS said in a statement. “This is similar to 2015, when a big increase in steel imports in January was followed by an even bigger decrease the following month. When consistent steel import growth returns, consistent overall economic growth will almost certainly follow.”