US Steel Imports Up 12.5% In July vs. June

Washington, D.C. – Based on preliminary Census Bureau data, the American Iron and Steel Institute (AISI) reported today that the U.S. imported a total of 2,421,000 net tons (NT) of steel in July 2024, including 2,017,000 net tons (NT) of finished steel (up 12.5% and 17.6%, respectively, vs. June 2024). Total and finished steel imports are up 2.2% and 3.2%, respectively, year-to-date vs. 2023. Over the 12-month period August 2023 to July 2024, total and finished steel imports are down 0.7% and 3.0%, respectively, vs. the prior 12-month period. Finished steel import market share was an estimated 23% in July and is estimated at 23% over the first seven months of 2024.

Key steel products with a significant import increase in July compared to June are cut length plates (up 131%), tin plate (up 115%), heavy structural shapes (up 100%), wire rods (up 93%), and cold rolled sheets (up 52%). Products with a significant increase in imports over the 12-month period August 2023 to July2024 compared to the previous 12-month period include sheets and strip all other metallic coated (up 44%), wire rods (up 28%), sheets and strip hot dipped galvanized (up 21%), cut lengths plates (up 15%), and hot rolled sheets (up 11%).

In July, the largest suppliers were Canada (542,000 NT, down 3% vs. June), Brazil (413,000 NT, up 33%), South Korea (204,000 NT, down 3%), Mexico (169,000 NT, down 20%) and Japan (146,000 NT, up 74%). Over the 12-month period August 2023 to July 2024, the largest suppliers were Canada (6,734,000 NT, down 3% compared to the previous twelve months), Brazil (4,409,000 NT, up 37%), Mexico (3,690,000 NT, down 18%), South Korea (2,885,000 NT, up 14%) and Japan (1,194,000 NT, down 3%). Below are charts on steel imports by country and estimated finished steel import market share in recent months.

Read the full statistical report here.