For the year 2011 compared to 2010, imports increased by nearly 19 percent, and were up 6.6 percent in December 2011 compared to December 2010. 'The increase in imports in 2011 compared to 2010 is positive, reflecting the continued slow improvement in market conditions in many steel consuming sectors. Moreover, the increase in imports of semifinished steel, used by the domestic industry to augment their hot end capacity ' up 31.7 percent for the year ' shows the overall strengthening of the steel market. Early indications are positive for 2012, as major steel markets continue to improve ' with non-residential construction remaining at weak levels. With steel consumers and distributors starting the year with low inventories in the environment of improving demand and rising prices, there is some optimism in the marketplace for both the domestic industry and importers at this time. We look forward to improvements in import arrivals in the months to come,' concluded Phelps.
Total Steel imports in December 2011 were 1.996 million tons compared to 2.121 million tons in November 2011, a 5.9 percent decrease, and a 6.6 percent increase compared to December 2010. According to year-to-date figures, imports increased 18.9 percent compared to 2010 or from 23.929 million tons in 2010 to 28.447 million tons in 2011. The data show that imported semifinished products increased by 32.5 percent in December 2011 compared to December 2010. For the year-to-date period, semifinished imports increased from 5.072 million tons in 2010 to 6.680 million tons in 2011, a 31.7% increase based on preliminary reporting.