Based on preliminary Census Bureau data, the American Iron and Steel Institute (AISI) reported that the U.S. imported a total of 2,339,000 net tons (NT) of steel in February 2022, including 1,831,000 net tons (NT) of finished steel (down 23.1 percent and 19.7 percent, respectively, vs. January 2022).
Total and finished steel imports are up 23.2 percent and 27.6 percent, respectively, vs. February 2021. Over the 12-month period March 2021 to February 2022, total and finished steel imports are up 50.1 percent and 53.1 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 2022.
Key finished steel products with a significant import increase in February compared to January are reinforcing bars (up 96 percent), heavy structural shapes (up 34 percent) and line pipe (up 19 percent). Products with a significant increase in imports over the 12-month period March 2021 to February 2022 compared to the previous 12-month period include hot rolled sheets (up 93 percent), sheets and strip all other metallic coated (up 92 percent), oil country goods (up 91 percent), wire rods (up 86 percent) and plates in coils (up 85 percent).
In February, the largest suppliers were Canada (470,000 NT, down 19 percent vs. January), Mexico (446,000 NT, down 22 percent), Brazil (264,000 NT, down 30 percent), South Korea (217,000 NT, up 37 percent) and Vietnam (71,000 NT, down 50 percent). Over the 12-month period March 2021 to February 2022, the largest suppliers were Canada (6,935,000 NT, up 33 percent vs. compared to the previous 12-months), Mexico (5,160,000 NT, up 58 percent), Brazil (3,929,000 NT, up 3 percent), South Korea (2,762,000 NT, up 36 percent) and Russia (1,688,000 NT, up 299 percent).
Published in the May 2022 Edition