Based on preliminary Census Bureau data, the American Iron and Steel Institute (AISI) reported that the U.S. imported a total of 2,394,000 net tons (NT) of steel in October 2024, including 1,840,000 net tons (NT) of finished steel (up 12.0 percent and 8.6 percent, respectively, vs. September 2024). Total and finished steel imports are up 2.6 percent and 2.7 percent, respectively, year-to-date vs. 2023. Over the 12 month period November 2023 to October 2024, total and finished steel imports are up 1.9 percent and unchanged, respectively, vs. the prior 12-month period. Finished steel import market share was an estimated 22 percent in October and is estimated at 23 percent over the first ten months of 2024.
Key steel products with a significant import increase in October compared to September are reinforcing bars (up 129 percent), heavy structural shapes (up 92 percent), cut lengths plates (up 55 percent), hot rolled sheets (up 51 percent) and blooms, billets and slabs (up 25 percent). Products with a significant increase in imports over the 12 month period November 2023 to October 2024 compared to the previous 12-month period include sheets and strip all other metallic coated (up 55 percent), sheets and strip hot dipped galvanized (up 37 percent), wire rods (up 21 percent), cold rolled sheets (up 19 percent) and heavy structural shapes (up 16 percent).
In October, the largest suppliers were Canada (545,000 NT, up 10 percent from September), Brazil (364,000 NT, up 10 percent), Mexico (361,000 NT, up 35 percent), South Korea (162,000 NT, down 40 percent), Japan (138,000 NT, up 77 percent) and Germany (138,000 NT, up 73 percent). Over the 12-month period November 2023 to October 2024, the largest suppliers were Canada (6,634,000 NT, down 3 percent compared to the previous twelve months), Brazil (4,793,000 NT, up 40 percent), Mexico (3,447,000 NT, down 20 percent), South Korea (2,831,000 NT, up 9 percent) and Vietnam (1,221,000 NT, up 126 percent).
Published January 2025
