Steel Imports Up In 2024 vs. December 2023

Finished Import Market Share YTD at 22%

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 2,547,000 net tons (NT) of steel in January 2024, including 1,914,000 net tons (NT) of finished steel (up 21.7% and 18.0%, respectively, vs. December 2023). Total and finished steel imports are down 2.4% and 4.4%, respectively, vs. January 2023. Over the 12-month period February 2023 to January 2024, total and finished steel imports are down 7.6% and 13.5%, respectively, vs. the prior 12-month period. Finished steel import market share was an estimated 22% in January 2024.

Key steel products with a significant import increase in January compared to December are sheets and strip all other metallic coatings (up 190%), hot rolled bars (up 66%), cut lengths plates (up 44%), oil country goods (up 37%) and blooms, billets and slabs (up 34%). Products with a significant increase in imports over the 12-month period February 2023 to January 2024 compared to the previous 12-month period include cut lengths plates (up 22%) and blooms, billets and slabs (up 20%).

In January, the largest suppliers were Canada (627,000 NT, up 16% vs. December), Brazil (468,000 NT, up 40%), Mexico (396,000 NT, up 36%), South Korea (193,000 NT, down 28%) and Japan (115,000 NT, up 46%). Over the 12-month period February 2023 to January 2024, the largest suppliers were Canada (6,919,000 NT, up 1% vs, compared to the previous 12-months), Mexico (4,124,000 NT, down 21%), Brazil (4,015,000 NT, up 55%), South Korea (2,691,000 NT, down 4%) and Japan (1,168,000 NT, down 8%). 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.