Based on preliminary Census Bureau data, the American Iron and Steel Institute (AISI) reported that the U.S. imported a total of 2,403,000 net tons (NT) of steel in October 2022, including 1,955,000 net tons of finished steel (up 7.2 percent and 5.1 percent, respectively, vs. September 2022).
Total and finished steel imports are up 3.7 percent and 19.1 percent, respectively, year-to-date vs. 2021. Over the 12 month period November 2021 to October 2022, total and finished steel imports are up 13.5 percent and 26.8 percent, respectively, vs. the prior 12 month period. Finished steel import market share was an estimated 23 percent in October and is estimated at 24 percent over the first ten months of 2022.
Key steel products with a significant import increase in October compared to September are heavy structural shapes (up 94 percent), cut length plates (up 21 percent), hot rolled bars (up 20 percent), wire rods (up 20 percent) and ingots and billets and slabs (up 18 percent).
Products with a significant increase in imports over the 12 month period November 2021 to October 2022 compared to the previous 12 month period include oil country goods (up 60 percent), heavy structural shapes (up 56 percent), standard pipe (up 49 percent), line pipe (up 49 percent) and wire rods (up 48 percent).
In October, the largest suppliers were Canada (561,000 NT, up 4 percent vs. September), Mexico (422,000 NT, up 34 percent), South Korea (202,000 NT, down 34 percent), Brazil (202,000 NT, up 7 percent) and Germany (108,000 NT, up 40 percent). Over the 12 month period November 2021 to October 2022, the largest suppliers were Canada (6,896,000 NT, up 2 percent compared to the previous 12 months), Mexico (5,645,000 NT, up 33 percent), South Korea (2,909,000 NT, up 11 percent), Brazil (2,775,000 NT, down 31 percent) and Japan (1,266,000 NT, up 32 percent).
