YTD U.S. Finished Steel Imports Dipped Significantly

SEATTLE (Scrap Monster): The total steel imports stood at 2.614 million net tons during the month of March this year, as per the most recent statistics published by the U.S. Census Bureau. This is modestly higher by 14.2% when compared with the imports during the prior month.

The finished steel imports too registered surge by 9.0% month-on-month to total 1.906 million net tons. Year-to-date, the total and finished steel imports recorded decline by 11.5% and 14.5% respectively.

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The finished steel product that reported highest surge in import volumes was cut length plates, whose imports during March 2023 recorded nearly 53% surge over the prior month. The imports of tin plates hot rolled sheets too were up by 44% and 41% respectively. The largest suppliers during the month were Canada, Brazil, Mexico, South Korea and Germany.

Over the 12-month period from April 2022 to March 2023, the total and finished steel imports were down by 10.3% and 2.5% respectively. The finished steel import market share was estimated at 22% in March and 23% over the initial three-month period of the current year, noted AISI.

The products with significant year-to-date increases over the 12-month period from April 2022 to March 2023 compared to the previous 12-month period included line pipe and oil country goods, whose imports surged higher by 46% and 42% respectively.