AISI Posted Notable Dip in U.S. Steel Imports

SEATTLE (Scrap Monster): The total steel imports stood at 2.672 million net tons during the month of July this year, as per the most recent statistics published by the U.S. Census Bureau. This is significantly down by 5.7% when compared with the imports during the prior month. The finished steel imports too registered decline by 2.1% month-on-month to total 2.274 million net tons.

The finished steel product that reported highest surge in import volumes was wire rods, whose imports during July 2022 recorded nearly 94% surge over the prior month. The imports of reinforcing bars too were up by 42%. The largest suppliers during the month were Canada, Mexico, South Korea, Brazil and Japan.

Over the 12-month period from August 2021 to July 2022, the total and finished steel imports were up by 35.7% and 47.1% respectively. The finished steel import market share was estimated at 25% in July as well as over the initial seven-month period of the current year, noted AISI.

The products with significant year-to-date increases over the 12-month period from August 2021 to July 2022 compared to the previous 12-month period included oil country goods and wire rods, whose imports skyrocketed by 111% and 92% respectively. Also, imports of plates in coils and cold rolled sheets were up by 63% and 61% respectively.