Based on preliminary Census Bureau data, the American Iron and Steel Institute (AISI) reported that the U.S. imported a total of 2,370,000 net tons (NT) of steel in July 2023, including 1,832,000 net tons (NT) of finished steel (down 15.2 percent and 8.1 percent, respectively, vs. June 2023). Total and finished steel imports are down 10.7 percent and 15.5 percent, respectively, year-to-date vs. 2022. Over the 12-month period August 2022 to July 2023, total and finished steel imports are down 13.7 percent and 14.0 percent, respectively, vs. the prior 12-month period.
Finished steel import market share was an estimated 21 percent in July and is estimated at 22 percent over the first 7 months of 2023.
Key steel products with a significant import increase in July compared to June are tin plate (up 26 percent), mechanical tubing (up 21 percent), heavy structural shapes (17 percent) and oil country goods (up 14 percent). Products with a significant increase in imports over the 12-month period August 2022 to July 2023 compared to the previous 12-month period include line pipe (up 28 percent), oil country goods (up 24 percent) and cut lengths plates (up 10 percent).
In July, the largest suppliers were Canada (531,000 NT, down 16 percent vs. June), Brazil (384,000 NT, down 8 percent), Mexico (291,000 NT, down 30 percent), South Korea (158,000 NT, down 58 percent) and Japan (122,000 NT, up 50 percent). Over the 12-month period August 2022 to July 2023, the largest suppliers were Canada (6,909,000 NT, down 1 percent compared to the previous 12-months), Mexico (4,503,000 NT, down 21 percent), Brazil (3,222,000 NT, up 3 percent), South Korea (2,530,000 NT, down 12 percent) and Japan (1,227,000 NT, down 1 percent).
