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 2,801,000 net tons (NT) of steel in April 2024, including 2,092,000 net tons (NT) of finished steel (up 11.3% and 4.5%, respectively, vs. March 2024). Total and finished steel imports are up 4.5% and 2.2%, respectively, year-to-date vs. 2023. Over the 12-month period May 2023 to April 2024, total and finished steel imports are down 3.1% and 8.8%, respectively, vs. the prior 12-month period. Finished steel import market share was an estimated 24% in April and is estimated at 23% over the first four months of 2024.
Key steel products with a significant import increase in April compared to March are wire rods (up 62%), blooms, billets and slabs (up 38%), tin plate (up 37%), cold rolled sheets (up 23%), reinforcing bars (up 22%) and hot rolled bars (up 22%). Products with a significant increase in imports over the 12-month period May 2023 to April 2024 compared to the previous 12-month period include cut lengths plates (up 30%), ingots, billets and slabs (up 21%) and sheets and strip all other metallic coatings (up 14%).
In April, the largest suppliers were Canada (587,000 NT, down 2% vs. March), Mexico (423,000 NT, up 48%), Brazil (386,000 NT, down 2%), South Korea (208,000 NT, down 40%) and Vietnam (145,000 NT, up 66%). Over the 12-month period May 2023 to April 2024, the largest suppliers were Canada (6,848,000 NT, down 1% compared to the previous twelve months), Brazil (4,275,000 NT, up 55%), Mexico (3,991,000 NT, down 20%), South Korea (2,857,000 NT, up 10%) and Japan (1,148,000 NT, down 12%). Below are charts on steel imports by country and estimated finished steel import market share in recent months.
Read the full statistical report here.
