U.S. Steel Imports Posted Notable Dip in November

The 12-month period from December 2023 to November 2024 showed a 1.9% increase in overall steel imports and a 1.6% increase in finished steel imports.

SEATTLE (Scrap Monster): In total, 2.067 million net tons of steel were imported in November of this year, according to the most recent data available from the U.S. Census Bureau. Compared to the imports of the previous month, this represents a little 13.7% decrease. In addition, the amount of finished steel imported during the month decreased by 13.5% to 1.593 million net tons.

Oil country goods experienced a roughly 45% increase in import volumes over November of this year, making them the finished steel product with the largest increase in import volumes. All other metallic-coated imports, including sheet and strip, also rose by 33%. The top offshore suppliers during the month were South Korea, Vietnam, Brazil, Mexico, and Canada.

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Overall steel imports increased 1.9% and finished steel imports increased 1.6% during the 12-month period from December 2023 to November 2024. The AISI research estimates that for the first eleven months of this year, the market share of imported finished steel was 23%.

The two items with the biggest year-to-date gains, when comparing the 12-month period from December 2023 to November 2024 to the previous 12-month period, were sheets and strip hot dipped galvanized and sheets and strip all other metallic coated, whose imports rose by 36% and 46%, respectively. Cold rolled sheet imports also increased by 24%.