U.S. Finished Steel Imports Spiked in March

SEATTLE (Scrap Monster): The total steel imports stood at 3.091 million net tons during the month of March this year, as per the most recent statistics published by the U.S. Census Bureau. This is significantly higher by 31.6% when compared with the final imports in February this year. The finished steel imports too registered substantial surge by 35.8% month-on-month to total 2.498 million net tons.

The finished steel product that reported highest surge in import volumes was standard pipe, whose imports during March 2022 recorded nearly 89% surge over the prior month. The imports of hot rolled sheets too were up by 69%. The other product to witness notable surge in imports was wire rods with 67% surge, compared to February.

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AISI Reported Significant Surge in Finished Steel Imports During 12-Month Period

Over the 12-month period from April 2021 to March 2022, the total and finished steel imports were up by 49.9% and 54.9% respectively. The finished steel import market share was estimated at 26% in March and at 24% over the initial three-month period of the current year, noted AISI.

The products with significant year-to-date increases over the 12-month period from April 2021 to March 2022 compared to the previous 12-month period included oil country goods and wire rods, whose imports skyrocketed by 113% and 101% respectively.