U.S. Finished Steel Imports Surged in 2022

SEATTLE (Scrap Monster): The American Iron and Steel Institute (AISI) reported that the total steel imports by the U.S. amounted to 2.186 million net tons (NT) during the final month of the previous year. Out of this, finished steel accounted for 1.848 million NT, said preliminary data released by the U.S. Census Bureau. Upon comparison with the prior month, the total and finished steel imports by the country were up by 8.6% and 4.8% respectively. The finished steel import market share stood at 23% during the month.

The steel product to record highest increase in import volumes in December 2022, compared with November, was line pipe, whose imports surged higher by 73%. The largest supplier of steel products to the U.S. during the month was Canada, followed by Mexico and South Korea.

During the entire year 2022, the total and finished steel imports totaled 30.382 million NT and 25.249 million NT respectively, down year-on-year by 2.0% and 10.9% respectively. The finished steel market share was estimated at 24% in 2022.

The products with significant increase in imports during the full year 2022 included line pipe, oil country goods and standard pipes. The largest suppliers were Canada, Mexico, South Korea, Brazil and Japan. The imports from Canada registered decline over the previous year, whereas those from Mexico and South Korea increased, said AISI report.