U.S. Steel Imports Witnessed Modest Uptick in 2024
Overall steel imports increased 2.5% and finished steel imports increased 3.7% during the full year 2024.
SEATTLE (Scrap Monster): The U.S. Census Bureau's most recent statistics shows that in December of last year, a total of 2.123 million net tons of steel were imported. This reflects a little 2.7% increase over the previous month's imports. Furthermore, 1.820 million net tons of finished steel were imported during the month, a 14.3% rise.
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The finished steel product with the biggest rise in import volumes was hot rolled sheets, which had an approximately 67% increase in import volumes over November of previous year. Imports of plates in coils and tin plates increased by 48% and 61%, respectively. Throughout the month, Canada, Mexico, South Korea, Brazil, and Vietnam were the leading offshore suppliers.
Over the course of 2024, imports of steel rose 2.5% overall and 3.7% in finished form. According to the AISI analysis, imported finished steel held a 23% market share for the entire year 2024. Meanwhile, in December 2024, the market share of imported finished steel was projected to reach 21%.
The two goods that saw the largest increases in 2024 compared to 2023 were hot-dipped galvanized sheets and strips and all other metallic coated sheets and strips, whose imports increased by 36% and 52%, respectively. Tin plate imports increased by 32% over the prior year as well.
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