American Iron and Steel Institute: Finished Steel Imports in US go up by 11%

Based on preliminary Census Bureau data, the American Iron and Steel Institute (AISI) reported today that the U.S. imported a total of 2,186,000 net tons (NT) of steel in December 2022, including 1,848,000 NT of finished steel (up 8.6% and 4.8%, respectively, vs. November 2022). Full year 2022 total and finished steel imports were 30,832,000 and 25,249,000 NT, down 2.0% and up 10.9%, respectively, vs. 2021. Finished steel import market share was an estimated 23% in December and is estimated at 24% for full year 2022.

Key steel products with a significant import increase in December compared to November are line pipe (up 73%), ingots and billets and slabs (up 36%), sheets and strip all other metallic coatings (up 30%), oil country goods (up 27%) and sheet and strip hot dipped galvanized (up 26%). Products with a significant increase in imports for the full year of 2022 vs. 2021 include line pipe (up 47%), oil country goods (up 44%), standard pipe (up 44%), heavy structural shapes (up 36%) and wire rods (up 30%).

In December, the largest suppliers were Canada (522,000 NT, down 1% vs. November), Mexico (415,000 NT, up 66%), South Korea (232,000 NT, up 66%), Japan (119,000 NT, up 14%) and Germany (77,000 NT, down 36%). For full year 2022, the largest suppliers were Canada (6,860,000 NT, down 2% vs. 2021), Mexico (5,302,000 NT, up 11%), South Korea (2,817,000 NT, up 3%), Brazil (2,568,000 NT, down 41%) and Japan (1,261,000 NT, up 16%). Below are charts on steel imports by country and estimated finished steel import market share in recent months.

Source: AISI, Photo: Fotolia