Based on preliminary Census Bureau data, the American Iron and Steel Institute (AISI) reported that the U.S. imported a total of 2,736,000 net tons (NT) of steel in May 2022, including 2,334,000 NT of finished steel (up 0.2 percent and 3.1 percent, respectively, vs. April 2022).
Total and finished steel imports are up 18.4 percent and 40.8 percent, respectively, year-to-date vs. 2021. Over the 12-month period June 2021 to May 2022, total and finished steel imports are up 47.5 percent and 55.0 percent, respectively, vs. the prior 12-month period. Finished steel import market share was an estimated 25 percent in May and is estimated at 24 percent over the first five months of 2022.
Key steel products with a significant import increase in May compared to April are reinforcing bars (up 120 percent), standard pipe (up 46 percent), mechanical tubing (up 23 percent), hot rolled bars (up 20 percent) and hot rolled sheets (up 11 percent). Products with a significant increase in imports over the 12-month period June 2021 to May 2022 compared to the previous 12-month period include oil country goods (up 135 percent), wire rods (up 120 percent), cold rolled sheets (up 79 percent), plates in coils (up 74 percent) and hot rolled sheets (up 68 percent).
In May, the largest suppliers were Canada (632,000 NT, up 3 percent vs. April), Mexico (482,000 NT, up 23 percent), South Korea (233,000 NT, down 7 percent), Turkey (155,000 NT, up 70 percent) and Brazil (128,000 NT, down 47 percent). Over the 12-month period June 2021 to May 2022, the largest suppliers were Canada (6,989,000 NT, up 19 percent vs. compared to the previous 12-months), Mexico (5,514,000 NT, up 63 percent), Brazil (3,485,000 NT, down 6 percent), South Korea (2,782,000 NT, up 35 percent) and Russia (1,429,000 NT, up 149 percent).
Published in the August 2022 Edition