Based on preliminary Census Bureau data, the American Iron and Steel Institute (AISI) reported that the U.S. imported a total of 2,318,000 net tons (NT) of steel in May 2023, including 1,869,000 net tons (NT) of finished steel (down 2.6 percent and 3.3 percent, respectively, vs. April 2023). Total and finished steel imports are down 12.5 percent and 15.7 percent, respectively, year-to-date vs. 2022. Over the 12-month period June 2022 to May 2023, total and finished steel imports are down 13.5 percent and 9.7 percent, respectively, vs. the prior 12-month period.
Finished steel import market share was an estimated 21 percent in May and is estimated at 22 percent over the first five months of 2023.
Key steel products with a significant import increase in May compared to April are cold rolled sheets (up 63 percent), cut length plates (up 59 percent), sheet and strip hot dipped galvanized (up
30 percent), tin plate (up 22 percent) and hot rolled sheets (up 19 percent). Products with a significant increase in imports over the 12-month period June 2022 to May 2023 compared to the previous 12-month period include line pipe (up 36 percent), oil country goods (up 35 percent), heavy structural shapes (up 14 percent) and standard pipe (up 13 percent).
In May, the largest suppliers were Canada (628,000 NT, up 6 percent vs. April), Mexico (282,000 NT, down 20 percent), Brazil (239,000 NT, up 12 percent), South Korea (219,000 NT, up 30 percent) and Germany (103,000 NT, down 4 percent). Over the 12-month period June 2022 to May 2023, the largest suppliers were Canada (6,929,000 NT, down 1 percent compared to the previous 12-months), Mexico (4,777,000 NT, down 13 percent), Brazil (2,871,000 NT, down 18 percent), South Korea (2,574,000 NT, down 10 percent) and Japan (1,294,000 NT, up 11 percent).
