AISI: U.S. Steel Imports Surged in October

SEATTLE (Scrap Monster): The total steel imports stood at 2.403 million net tons during the month of October this year, as per the most recent statistics published by the U.S. Census Bureau. This is modestly higher by 7.2% when compared with the imports during the prior month. The finished steel imports too registered surge by 85.1% month-on-month to total 1.955 million net tons. Year-to-date, the total and finished steel imports surged higher by 3.7% and 19.1% respectively.

The finished steel product that reported highest surge in import volumes was heavy structural shapes, whose imports during October this year recorded nearly 94% surge over the prior month. The imports of cut length plates and hot rolled bars too were up by 21% and 20% respectively. The largest suppliers during the month were Canada, Mexico, South Korea, Brazil and Germany.

Over the 12-month period from November 2021 to October 2022, the total and finished steel imports were up by 13.5% and 26.8% respectively. The finished steel import market share was estimated at 23% in October and 24% over the initial ten-month period of the current year, noted AISI.

The products with significant year-to-date increases over the 12-month period from November 2021 to October 2022 compared to the previous 12-month period included oil country goods and heavy structural shapes, whose imports skyrocketed by 60% and 56% respectively.

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