AISI: YTD U.S. Steel Imports Dipped Significantly

SEATTLE (Scrap Monster): The total steel imports stood at 2.182 million net tons during the month of October this year, as per the most recent statistics published by the U.S. Census Bureau. This is marginally down by 0.3% when compared with the imports during the prior month. On the contrary, the finished steel imports registered significant surge by 16.2% month-on-month to total 1.837 million net tons.

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The finished steel product that reported highest surge in import volumes was tin plates, whose imports during October 2023 recorded nearly 124% jump over the prior month. The imports of wire rods too were up by around 81%. The largest offshore suppliers during the month were Canada, Mexico, South Korea, Japan and Germany.

Over the 12-month period from November 2022 to October 2023, the total and finished steel imports were down by 12.9% and 15.4% respectively. The finished steel import market share was estimated at 19% in October, whereas it stood at 22% as over the initial ten-month period of the current year, noted AISI.

The products with significant year-to-date increases over the 12-month period from November 2022 to October 2023 compared to the previous 12-month period included cut lengths plates and oil country goods, whose imports increased by 18% and 13% respectively.