Steel Imports Down In November vs. October

Finished Import Market Share YTD at 21%

Washington, D.C. – Based on preliminary Census Bureau data, the American Iron and Steel Institute (AISI) reported today that the U.S. imported a total of 2,018,000 net tons (NT) of steel in November 2023, including 1,487,000 net tons (NT) of finished steel (down 8.1% and up 19.7%, respectively, vs. October 2023). Total and finished steel imports are down 9.0% and 14.2%, respectively, year-to-date vs. 2022. Over the 12-month period December 2022 to November 2023, total and finished steel imports are down 10.3% and 14.5%, respectively, vs. the prior 12-month period. Finished steel import market share was an estimated 19% in November and is estimated at 21% over the first eleven months of 2023.

Key steel products with a significant import increase in November compared to October are sheet and strip all other metallic coatings (up 55%) and ingots, billets and slabs (up 54%). Products with a significant increase in imports over the 12-month period December 2022 to November 2023 compared to the previous 12-month period include cut lengths plates (up 13%).

In November, the largest suppliers were Canada (534,000 NT, down 4% vs. 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 December 2022 to November 2023, the largest suppliers were Canada (6,868,000 NT, unchanged compared to 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%). Below are charts on steel imports by country and estimated finished steel import market share in recent months.

Read the full statistical report here.

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Contact: Lisa Harrison

202.452.7115 / lharrison@steel.org

AISI serves as the voice of the American steel industry in the public policy arena and advances the case for steel in the marketplace as the preferred material of choice. AISI also plays a lead role in the development and application of new steels and steelmaking technology. AISI’s membership is comprised of integrated and electric arc furnace steelmakers, and associate members who are suppliers to or customers of the steel industry. For more news about steel and its applications, view AISI’s website at www.steel.org. Follow AISI on Facebook or Twitter (@AISISteel)