AISI Posted Notable Surge in YTD U.S. Finished Steel Imports

SEATTLE (Scrap Monster): The total steel imports stood at 2.736 million net tons during the month of May this year, according to the most recent statistics published by the U.S. Census Bureau. This is marginally higher by 0.2% when compared with the imports during the prior month. The finished steel imports too registered modest jump by 3.1% month-on-month to total 2.334 million net tons.

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The finished steel product that reported highest surge in import volumes was reinforcing bars, whose imports surged higher by nearly 120% during May this year, compared to the prior month. The imports of standard pipe and mechanical tubing too were up by 46% and 23% respectively. The largest suppliers during the month were Canada, Mexico, South Korea, Turkey and Brazil.

Over the 12-month period from June 2021 to May 2022, the total and finished steel imports were up by 47.5% and 55.0% respectively. The finished steel import market share was estimated at 25% in May and at 24% over the initial five-month period of the current year, noted AISI.

The products with significant year-to-date increases over the 12-month period from June 2021 to May 2022 compared to the previous 12-month period included oil country goods and wire rods, whose imports skyrocketed by 135% and 120% respectively. Also, imports of cold rolled sheets and plates in coils were up by 79% and 74% respectively.