Based on preliminary Census Bureau data, the American Iron and Steel Institute (AISI) reported that the U.S. imported a total of 2,129,000 net tons (NT) of steel in September 2024, including 1,688,000 NT of finished steel (down 10.3 percent and 8.0 percent, respectively, vs. August 2024). Total and finished steel imports are up 1.9 percent and 3.1 percent, respectively, year-to-date vs. 2023. Over the 12-month period October 2023 to September 2024, total and finished steel imports are up 0.4 percent and down 0.5 percent, respectively, vs. the prior 12-month period. Finished steel import market share was an estimated 21 percent in September and is estimated at 23 percent over the first nine months of 2024.
Key steel products with a significant import increase in September compared to August are mechanical tubing (up 15 percent) and hot rolled bars (up 15 percent). Products with a significant increase in imports over the 12-month period October 2023 to September 2024 compared to the previous 12-month period include sheets and strip all other metallic coated (up 53 percent), sheets and strip hot dipped galvanized (up 31 percent), wire rods (up 26 percent), cold rolled sheets (up 15 percent) and heavy structural shapes (up 12 percent).
In September, the largest suppliers were Canada (496,000 NT, down 1 percent vs. August), Brazil (330,000 NT, down 28 percent), South Korea (271,000 NT, up 1 percent), Mexico (267,000 NT, up 66 percent) and Vietnam (132,000 NT, down 14 percent). Over the 12-month period October 2023 to September 2024, the largest suppliers were Canada (6,646,000 NT, down 3 percent compared to the previous twelve months), Brazil (4,533,000 NT, up 29 percent), Mexico (3,395,000 NT, down 23 percent), South Korea (2,836,000 NT, up 8 percent) and Japan (1,188,000 NT, down 2 percent). Below are charts on steel imports by country and estimated finished steel import market share in recent months.
Published December 2024
