Based on preliminary Census Bureau data, the American Iron and Steel Institute (AISI) reported that the U.S. imported a total of 2,421,000 net tons (NT) of steel in July 2024, including 2,017,000 net tons (NT) of finished steel (up 12.5 percent and 17.6 percent, respectively, vs. June 2024). Total and finished steel imports are up 2.2 percent and 3.2 percent, respectively, year-to-date vs. 2023. Over the 12-month period August 2023 to July 2024, total and finished steel imports are down 0.7 percent and 3.0 percent, respectively, vs. the prior 12-month period. Finished steel import market share was an estimated 23 percent in July and is estimated at 23 percent over the first 7 months of 2024.
Key steel products with a significant import increase in July compared to June are cut length plates (up 131 percent), tin plate (up 115 percent), heavy structural shapes (up 100 percent), wire rods (up 93 percent), and cold rolled sheets (up 52 percent). Products with a significant increase in imports over the 12-month period August 2023 to July2024 compared to the previous 12-month period include sheets and strip all other metallic coated (up 44 percent), wire rods (up 28 percent), sheets and strip hot dipped galvanized (up 21 percent), cut lengths plates (up 15 percent), and hot rolled sheets (up 11 percent).
In July, the largest suppliers were Canada (542,000 NT, down 3 percent vs. June), Brazil (413,000 NT, up 33 percent), South Korea (204,000 NT, down 3 percent), Mexico (169,000 NT, down 20 percent) and Japan (146,000 NT, up 74 percent). Over the 12-month period August 2023 to July 2024, the largest suppliers were Canada (6,734,000 NT, down 3 percent compared to the previous twelve months), Brazil (4,409,000 NT, up 37 percent), Mexico (3,690,000 NT, down 18 percent), South Korea (2,885,000 NT, up 14 percent) and Japan (1,194,000 NT, down 3 percent).
