AISI Declared Modest Surge in May 2024 Finished Steel Imports

SEATTLE (Scrap Monster): The total U.S. steel imports stood at 2.850 million net tons during the month of May this year, as per the most recent statistics published by the U.S. Census Bureau. This is modestly higher by nearly 1.7% when compared with the imports during the prior month. Also, the finished steel imports registered notable surge by 6.6% month-on-month to total 2.231 million net tons.

The finished steel product that reported highest surge in import volumes was line pipes, whose imports during May this year recorded nearly 73% jump over the prior month. The imports of oil country goods too were up by 53%. Also, imports of sheets and strip all other metallic coated reported 17% surge over the prior month. The largest offshore suppliers during the month were Canada, Brazil, South Korea, Mexico, and Vietnam.

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Over the 12-month period from June 2023 to May 2024, the total and finished steel imports were unchanged and down by 5.4% respectively. The finished steel import market share was estimated at 25% in May and at 23% over the first five months of the current year, noted AISI.

The products with significant year-to-date increases over the 12-month period from June 2023 to May 2024 compared to the previous 12-month period included sheets and strip all other metallic coated and ingots, billets and slabs, whose imports surged higher by 24% and 23% respectively. The imports of cut lengths plates too were up by 23%.