Metals
Based on preliminary Census Bureau data, the American Iron and Steel Institute (AISI) reported that the U.S. imported a total of 2,255,000 net tons (NT) of steel in February 2023, including 1,716,000 net tons (NT) of finished steel (down 13.5 percent and 14.3 percent, respectively, vs. January 2023). Total and finished steel imports are down 9.8 percent and 9.7 percent, respectively, year-to-date vs. 2022.
Over the 12-month period March 2022 to February 2023, total and finished steel imports are down 6.8 percent and up 2.7 percent, respectively, vs. the prior 12-month period. Finished steel import market share was an estimated 22 percent in February and is estimated at 23 percent over the first two months of 2023.
A key steel product with a significant import increase in February compared to January was line pipe (up 35 percent).
Products with a significant increase in imports over the 12-month period March 2022 to February 2023 compared to the previous 12-month period include line pipe (up 49 percent), oil country goods (up 43 percent), standard pipe (up 39 percent), heavy structural shapes (up 34 percent) and tin plate (up 11 percent).
Over the 12-month period March 2022 to February 2023, the largest suppliers were Canada (6,943,000 NT, no change compared to the previous 12 months), Mexico (5,123,000 NT, down 1 percent), South Korea (2,804,000 NT, up 2 percent), Brazil (2,676,000 NT, down 32 percent) and Japan (1,264,000 NT, up 11 percent).
