AISI Posted Notable Decline in U.S. Finished Steel Imports

SEATTLE (Scrap Monster): The total steel imports stood at 2.277 million net tons during the month of August this year, as per the most recent statistics published by the U.S. Census Bureau. This is modestly down by 4% when compared with the imports during the prior month. Also, the finished steel imports registered marginal decline by 1.4% month-on-month to total 1.858 million net tons.

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The finished steel product that reported highest surge in import volumes was sheets and strip all other metallic coatings, whose imports during August 2023 recorded nearly 60% jump over the prior month. The imports of standard pipes too were up by around 30%. The largest offshore suppliers during the month were Canada, Mexico, South Korea, Brazil and Japan.

Over the 12-month period from September 2022 to August 2023, the total and finished steel imports were down by 14.2% and 15.4% respectively. The finished steel import market share was estimated at 21% in August, whereas it stood at 22% as over the initial eight-month period of the current year, noted AISI.

The products with significant year-to-date increases over the 12-month period from September 2022 to August 2023 compared to the previous 12-month period included line pipe and oil country goods, whose imports increased by 26% and 18% respectively. Also, imports of cut length plates were up by 13%.