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[Ferro-Alloys.com]Based on preliminary Census Bureau data, the American Iron and Steel Institute (AISI) reported that the U.S. imported a total of 2,736,000 net tons (NT) of steel in May 2022, including 2,334,000 net tons (NT) of finished steel (up 0.2% and 3.1%, respectively, vs. April 2022). Total and finished steel imports are up 18.4% and 40.8%, respectively, year-to-date vs. 2021. Over the 12-month period June 2021 to May 2022, total and finished steel imports are up 47.5% and 55.0%, respectively, vs. the prior 12-month period. Finished steel import market share was an estimated 25% in May and is estimated at 24% over the first five months of 2022.

 

Key steel products with a significant import increase in May compared to April are reinforcing bars (up 120%), standard pipe (up 46%), mechanical tubing (up 23%), hot rolled bars (up 20%) and hot rolled sheets (up 11%). Products with a significant increase in imports over the 12-month period June 2021 to May 2022 compared to the previous 12-month period include oil country goods (up 135%), wire rods (up 120%), cold rolled sheets (up 79%), plates in coils (up 74%) and hot rolled sheets (up 68%).

 

In May, the largest suppliers were Canada (632,000 NT, up 3% vs. April), Mexico (482,000 NT, up 23%), South Korea (233,000 NT, down 7%), Turkey (155,000 NT, up 70%) and Brazil (128,000 NT, down 47%). Over the 12-month period June 2021 to May 2022, the largest suppliers were Canada (6,989,000 NT, up 19% vs. compared to the previous 12-months), Mexico (5,514,000 NT, up 63%), Brazil (3,485,000 NT, down 6%), South Korea (2,782,000 NT, up 35%) and Russia (1,429,000 NT, up 149%). Below are charts on steel imports by country and estimated finished steel import market share in recent months.