Steel Imports Up 1.7% in May vs. April

Finished Import Market Share YTD at 23%

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 2,850,000 net tons (NT) of steel in May 2024, including 2,231,000 net tons (NT) of finished steel (up 1.7% and 6.6%, respectively, vs. April 2024). Total and finished steel imports are up 8.0% and 5.5%, respectively, year-to-date vs. 2023. Over the 12-month period June 2023 to May 2024, total and finished steel imports are unchanged and down 5.4%, respectively, vs. the prior 12-month period. Finished steel import market share was an estimated 25% in May and is estimated at 23% over the first five months of 2024.

Key steel products with a significant import increase in May compared to April are line pipe (up 73%), oil country goods (up 53%), sheets and strip all other metallic coated (up 17%), sheets and strip hot dipped galvanized (up 17%), and standard pipe (up 15%). Products with a significant increase in imports over the 12-month period June 2023 to May 2024 compared to the previous 12-month period include sheets and strip all other metallic coated (up 24%), ingots, billets and slabs (up 23%), cut lengths plates (up 23%) and sheets and strip hot dipped galvanized (up 11%).

In May, the largest suppliers were Canada (574,000 NT, down 2% vs. April), Brazil (453,000 NT, up 18%), South Korea (369,000 NT, up 77%), Mexico (310,000 NT, down 27%) and Vietnam (148,000 NT, up 2%). Over the 12-month period June 2023 to May 2024, the largest suppliers were Canada (6,795,000 NT, down 2% compared to the previous twelve months), Brazil (4,489,000 NT, up 56%), Mexico (4,018,000 NT, down 16%), South Korea (3,006,000 NT, up 17%) and Japan (1,168,000 NT, down 10%). 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’s membership is comprised of integrated and electric arc furnace (EAF) steelmakers reflecting the production of both carbon and stainless steels which are critical to the everyday lives of all Americans — including national security, roads and bridges, the electrical grid, clean energy technologies and the automotive market. AISI also represents nearly 80 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, LinkedIn, Twitter (@AISISteel) or Instagram.