Based on preliminary Census Bureau data, the American Iron and Steel Institute (AISI) reported that the U.S. imported a total of 2,791,000 net tons (NT) of steel in June 2023, including 1,991,000 net tons (NT) of finished steel (up 20.3 percent and 6.4 percent, respectively, vs. May 2023). Total and finished steel imports are down 10.7 percent and 14.9 percent, respectively, year-to-date vs. 2022. Over the 12-month period July 2022 to June 2023, total and finished steel imports are down 13.5 percent and 9.3 percent, respectively, vs. the prior 12-month period. Finished steel import market share was an estimated 23 percent in June and is estimated at 23 percent over the first six months of 2023.
Key steel products with a significant import increase in June compared to May are reinforcing bars (up 172 percent), ingots and billets and slabs (up 79 percent), heavy structural shapes (up 63 percent), hot rolled sheets (up 45 percent) and line pipe (up 34 percent). Products with a significant increase in imports over the 12-month period July 2022 to June 2023 compared to the previous 12-month period include line pipe (up 36 percent), oil country goods (up 31 percent), cut lengths plates (up 10 percent) and standard pipe (up 10 percent).
In June, the largest suppliers were Canada (628,000 NT, no change vs. May), Brazil (419,000 NT, up 75 percent), Mexico (417,000 NT, up 48 percent), South Korea (375,000 NT, up 71 percent) and China (114,000 NT, up 149 percent). Over the 12-month period July 2022 to June 2023, the largest suppliers were Canada (6,923,000 NT, down 1 percent compared to the previous 12-months), Mexico (4,673,000 NT, down 17 percent), Brazil (3,090,000 NT, down 8 percent), South Korea (2,649,000 NT, down 9 percent) and Japan (1,278,000 NT, up 13 percent).
