U.S. Finished Steel Imports Dropped in February, Says AISI

SEATTLE (Scrap Monster): Based on preliminary data released by the Census Bureau, the U.S. imports of steel totalled 2,467,000 net tons (NT) during the month of February 2024, said the American Iron and Steel Institute (AISI). This includes 1,741,000 NT of finished steel. The total and finished steel imports during the month recorded decline by 3.2% and 9.2% respectively, when compared with the opening month of the year.

Upon comparison with the same month a year before, the total and finished steel imports were up by 2.4% and down by 2.5% respectively. During the twelve-month period from March 2023 to February 2024, the total and finished steel imports recorded decline by 6.5% and 12.5% respectively. The finished steel import market share was estimated at 21% in February 2024, AISI noted.

The imports of reinforcing bars recorded highest surge, rising by 155% in February this year over the prior month. The other key steel products to record significant increase in imports were tin plates and blooms, billets and slabs, which were up by 34% and 15% respectively. The products with significant increase in imports over the twelve-month period include cut lengths plates and ingots, billets and slabs.

The largest steel suppliers in January were Canada, Brazil, Mexico, South Korea and Taiwan. Over the twelve-month period, the largest suppliers were Canada, Brazil, Mexico, South Korea and Japan.

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