Based on preliminary Census Bureau data, the American Iron and Steel Institute (AISI) reported that the U.S. imported a total of 2,672,000 net tons (NT) of steel in July 2022, including 2,274,000 NT of finished steel (down 5.7 percent and up 2.1 percent, respectively, vs. June 2022).
Total and finished steel imports are up 10.4 percent and 31.8 percent, respectively, year-to-date vs. 2021. Over the 12-month period August 2021 to July 2022, total and finished steel imports are up 35.7 percent and 47.1 percent, respectively, vs. the prior 12-month period.
Finished steel import market share was an estimated 25 percent in July and is estimated at 25 percent over the first seven months of 2022.
Key steel products with a significant import increase in July compared to June are wire rods (up 94 percent), reinforcing bars (up 42 percent), cut length plates (up 22 percent) and oil country goods (up 21 percent). Products with a significant increase in imports over the 12-month period August 2021 to July 2022 compared to the previous 12-month period include oil country goods (up 111 percent), wire rods (up 92 percent), plates in coils (up 63 percent), cold rolled sheets (up 61 percent) and heavy structural shapes (up 53 percent).
In July, the largest suppliers were Canada (544,000 NT, down 14 percent vs. June), Mexico (460,000 NT, down 12 percent), South Korea (279,000 NT, down 7 percent), Brazil (252,000 NT, up 26 percent) and Japan (173,000 NT, up 76 percent). Over the 12-month period August 2021 to July 2022, the largest suppliers were Canada (7,010,000 NT, up 12 percent vs. compared to the previous 12-months), Mexico (5,692,000 NT, up 53 percent), Brazil (3,144,000 NT, down 3 percent), South Korea (2,886,000 NT, up 23 percent) and Vietnam (1,262,000 NT, up 179 percent).
Published in the September 2022 Edition
