Based on initial data from the Census Bureau, the American Iron and Steel Institute (AISI) announced today that steel imports in the United States totaled 2,018,000 net tons (NT) in November 2023. This figure includes 1,487,000 net tons (NT) of finished steel, reflecting an 8.1% decrease and a 19.7% increase, respectively, compared to October 2023. Year-to-date comparisons indicate a 9.0% decline in total steel imports and a 14.2% decrease in finished steel imports compared to the same period in 2022. Over the 12-month period from December 2022 to November 2023, both total and finished steel imports dropped by 10.3% and 14.5%, respectively, compared to the preceding 12 months. The market share for finished steel imports is estimated at 19% in November and 21% for the first eleven months of 2023.
In November, notable increases in steel imports were observed in sheet and strip with all other metallic coatings (up 55%) and ingots, billets, and slabs (up 54%). Cut lengths plates experienced a significant import surge of 13% over the 12-month period from December 2022 to November 2023 compared to the previous 12 months.
The major suppliers in November were Canada (534,000 NT, down 4% from October), Brazil (380,000 NT, up 266%), Mexico (248,000 NT, down 20%), South Korea (141,000 NT, down 16%), and Japan (86,000 NT, down 36%). Over the 12-month period from December 2022 to November 2023, the leading suppliers remained Canada (6,868,000 NT, unchanged from the previous 12 months), Mexico (4,308,000 NT, down 21%), Brazil (3,656,000 NT, up 32%), South Korea (2,600,000 NT, down 8%), and Japan (1,229,000 NT, up 1%). The following charts depict steel imports by country and the estimated market share of finished steel imports in recent months.
Source: Steel.org