AISI: Steel Imports Down 8.7% in 2023

SEATTLE (Scrap Monster): Based on preliminary data released by the Census Bureau, the U.S. imports of steel totalled 2,082,000 net tons (NT) during the month of December 2023, said the American Iron and Steel Institute (AISI). This includes 1,614,000 NT of finished steel. The total and finished steel imports during the month surged higher by 2.6% and 7.7% respectively, when compared with the prior month.

The U.S. imported 28,156,000 NT of steel during the full year 2023, down by 8.7% from 2022. Also, the finished steel imports registered decline by 14.1% year-on-year to total 21,694,000 NT. The finished steel import market share was estimated at 21% for the whole year, AISI noted.

The imports of oil country goods recorded significant surge by 52% in December over the prior month. The other key steel products to record significant import increase were hot rolled sheets and plates in coils, which were up by 38% and 28% respectively. The products with significant increase in imports for the full year of 2023 include cut lengths plates and ingots, billets and slabs.

The largest steel suppliers in December were Canada, Brazil, Mexico, South Korea and Germany. For the full year 2023, the largest suppliers were Canada, Mexico, Brazil, South Korea and Japan.