Metals
Based on preliminary Census Bureau data, the American Iron and Steel Institute (AISI) reported that the U.S. imported a total of 2,237,000 net tons (NT) of steel in September 2022, including 1,858,000 NT of finished steel (down 10.9 percent and 10.8 percent, respectively).
Total and finished steel imports are up 4.4 percent and 22.5 percent, respectively, year-to-date vs. 2021. Over the 12 month period October 2021 to September 2022, total and finished steel imports are up 17.9 percent and 33.0 percent, respectively, vs. the prior 12 month period. Finished steel import market share was an estimated 22 percent in September and is estimated at 24 percent over the first nine months of 2022.
Key steel products with a significant import increase in September compared to August are line pipe (up 63 percent) and standard pipe (up 19 percent). Products with a significant increase in imports over the 12-month period October 2021 to September 2022 compared to the previous 12-month period include oil country goods (up 70 percent), wire rods (up 63 percent), plates in coils (up 47 percent), line pipe (up 47 percent) and standard pipe (up 46 percent).
In September, the largest suppliers were Canada (539,000 NT, down 8 percent vs. August), Mexico (316,000 NT, down 35 percent), South Korea (305,000 NT, up 72 percent), Brazil (188,000 NT, up 7 percent) and Taiwan (102,000 NT, up 24 percent). Over the 12-month period October 2021 to September 2022, the largest suppliers were Canada (6,924,000 NT, up 5 percent compared to the previous 12 months), Mexico (5,679,000 NT, up 40 percent), South Korea (2,915,000 NT, up 13 percent), Brazil (2,750,000 NT, down 30 percent) and Vietnam (1,266,000 NT, up 128 percent). Above is a chart on steel imports by country and estimated finished steel import market share in recent months.
Published in the December 2022 Edition