AISI: U.S. Finished Steel Imports Posted Notable Surge

SEATTLE (Scrap Monster): The total steel imports stood at 2.791 million net tons during the month of June this year, as per the most recent statistics published by the U.S. Census Bureau. This is significantly higher by 20.3% when compared with the imports during the prior month. Also, the finished steel imports registered notable increase by 6.4% month-on-month to total 1.991 million net tons.

The finished steel product that reported highest surge in import volumes was reinforcing bars, whose imports during June 2023 recorded nearly 172% jump over the prior month. The imports of ingots and billets and slabs too were up by 79%. The largest offshore suppliers during the month were Canada, Brazil Mexico, South Korea and China.

Over the 12-month period from July 2022 to June 2023, the total and finished steel imports were down by 13.5% and 9.3% respectively. The finished steel import market share was estimated at 23% in June as well as over the initial half-yearly period of the current year, noted AISI.

The products with significant year-to-date increases over the 12-month period from July 2022 to June 2023 compared to the previous 12-month period included line pipe and oil country goods, whose imports skyrocketed by 36% and 31% respectively. Also, imports of cut length plates and standard pipes were up by 10% each.