Steel Imports Up In 2024 vs. December 2023

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 2,547,000 net tons (NT) of steel in January 2024, including 1,914,000 net tons (NT) of finished steel (up 21.7% and 18.0%, respectively, vs. December 2023). Total and finished steel imports are down 2.4% and 4.4%, respectively, vs. January 2023. Over the 12-month period February 2023 to January 2024, total and finished steel imports are down 7.6% and 13.5%, respectively, vs. the prior 12-month period. Finished steel import market share was an estimated 22% in January 2024.

Key steel products with a significant import increase in January compared to December are sheets and strip all other metallic coatings (up 190%), hot rolled bars (up 66%), cut lengths plates (up 44%), oil country goods (up 37%) and blooms, billets and slabs (up 34%). Products with a significant increase in imports over the 12-month period February 2023 to January 2024 compared to the previous 12-month period include cut lengths plates (up 22%) and blooms, billets and slabs (up 20%).

In January, the largest suppliers were Canada (627,000 NT, up 16% vs. December), Brazil (468,000 NT, up 40%), Mexico (396,000 NT, up 36%), South Korea (193,000 NT, down 28%) and Japan (115,000 NT, up 46%). Over the 12-month period February 2023 to January 2024, the largest suppliers were Canada (6,919,000 NT, up 1% vs, compared to the previous 12-months), Mexico (4,124,000 NT, down 21%), Brazil (4,015,000 NT, up 55%), South Korea (2,691,000 NT, down 4%) and Japan (1,168,000 NT, down 8%). Below are charts on steel imports by country and estimated finished steel import market share in recent months.