Based on preliminary Census Bureau data, the American Iron and Steel Institute (AISI) reported that the U.S. imported a total of 2,810,000 net tons (NT) of steel in June 2022, including 2,204,000 NT of finished steel (up 2.3 percent and down 6.0 percent, respectively, vs. May 2022).
Total and finished steel imports are up 14.3 percent and 34.7 percent, respectively, year-to-date vs. 2021. Over the 12-month period July 2021 to June 2022, total and finished steel imports are up 38.2 percent and 50.1 percent, respectively, vs. the prior 12 month period.
Finished steel import market share was an estimated 25 percent in June and is estimated at 25 percent over the first 6 months of 2022.
Key steel products with a significant import increase in June compared to May are heavy structural shapes (up 61 percent), ingots and billets and slabs (up 51 percent), plates in coils (up 29 percent), sheets and strip all other metallic coated (up 16 percent) and tin plate (up 16 percent). Products with a significant increase in imports over the 12-month period July 2021 to June 2022 compared to the previous 12-month period include oil country goods (up 125 percent), wire rods (up 97 percent), cold rolled sheets (up 69 percent), plates in coils (up 69 percent) and sheets and strip all other metallic coated (up 61 percent).
In June, the largest suppliers were Canada (635,000 NT, up 1 percent vs. May), Mexico (521,000 NT, up 8 percent), South Korea (299,000 NT, up 28 percent), Brazil (200,000 NT, up 57 percent) and Russia (123,000 NT, up 521 percent). Over the 12-month period July 2021 to June 2022, the largest suppliers were Canada (7,021,000 NT, up 15 percent vs. compared to the previous 12-months), Mexico (5,610,000 NT, up 57 percent), Brazil (3,347,000 NT, down 17 percent), South Korea (2,898,000NT, up 31 percent) and Russia (1,374,000 NT, up 85 percent).
Published in the September 2022 Edition