Based on preliminary Census Bureau data, the American Iron and Steel Institute (AISI) reported that the U.S. imported a total of 2,729,000 net tons (NT) of steel in April 2022, including 2,264,000 NT of finished steel (down 11.7 percent and 9.4 percent, respectively, vs. March 2022). Total and finished steel imports are up 21.0 percent and 45.1 percent, respectively, year-to-date vs. 2021. Over the 12-month period May 2021 to April 2022, total and finished steel imports are up 51.3 percent and 55.3 percent, respectively, vs. the prior 12-month period. Finished steel import market share was an estimated 27 percent in April and is estimated at 25 percent over the first four months of 2022.
Key steel products with a significant import increase in April compared to March are tin plate (up 28.9 percent) and cut lengths plates (up 22.5 percent). Products with a significant increase in imports over the 12-month period May 2021 to April 2022 compared to the previous 12-month period include oil country goods (up 118 percent), wire rods (up 117 percent), plates in coils (up 81 percent), hot rolled sheets (up 78 percent) and cold rolled sheets (up 76 percent).
In April, the largest suppliers were Canada (613,000 NT, down 6 percent vs. March), Mexico (395,000 NT, down 27 percent), South Korea (250,000 NT, down 22 percent), Brazil (241,000 NT, down 31 percent) and Vietnam (121,000 NT, down 28 percent).
Over the 12-month period May 2021 to April 2022, the largest suppliers were Canada (6,970,000 NT, up 25 percent vs. compared to the previous 12-months), Mexico (5,342,000 NT, up 58 percent), Brazil (3,690,000 NT, up 8 percent), South Korea (2,828,000 NT, up 30 percent) and Russia (1,637,000 NT, up 290 percent).
Published in the July 2022 Edition