Based on preliminary Census Bureau data, the American Iron and Steel Institute (AISI) reported that the U.S. imported a total of 2,152,000 net tons (NT) of steel in June 2024, including 1,717,000 net tons (NT) of finished steel (down 24.5 percent and 23.0 percent, respectively, vs. May 2024). Total and finished steel imports are both up 2.2 percent year-to-date vs. 2023. Over the 12 month period July 2023 to June 2024, total and finished steel imports are down 1.9 percent and 5.7 percent, respectively, vs. the prior 12 month period. Finished steel import market share was an estimated 21 percent in June and is estimated at 23 percent over the first six months of 2024.
Products with a significant increase in imports over the 12 month period July 2023 to June 2024 compared to the previous 12 month period, include sheets and strip all other metallic coated (up 35 percent), sheets and strip hot dipped galvanized (up 17 percent), ingots, billets and slabs (up 13 percent), and cut lengths plates (up 11 percent).
In June, the largest suppliers were Canada (559,000 NT, down 3 percent vs. May), Brazil (310,000 NT, down 32 percent), Mexico (210,000 NT, down 32 percent), South Korea (210,000 NT, down 43 percent) and Vietnam (128,000 NT, down 14 percent). Over the 12-month period July 2023 to June 2024, the largest suppliers were Canada (6,726,000 NT, down 3 percent compared to the previous twelve months), Brazil (4,379,000 NT, up 42 percent), Mexico (3,811,000 NT, down 18 percent), South Korea (2,838,000 NT, up 7 percent) and Japan (1,170,000 NT, down 9 percent). Below are charts on steel imports by country and estimated finished steel import market share in recent months.
