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.

ALSO READ:

AISI Blueprint Outlines Top Steel Industry Priorities

AISI Published Statement on Trump's America First Trade Policy

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.