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Based on preliminary Census Bureau data, the American Iron and Steel Institute (AISI) reported that the U.S. imported a total of 2,510,000 net tons (NT) of steel in August 2022, including 2,084,000 net tons (NT) of finished steel (down 6.2% and 8.4%, respectively, vs. July 2022). Total and finished steel imports are up 8.8% and 28.7%, respectively, year-to-date vs. 2021. Over the 12-month period September 2021 to August 2022, total and finished steel imports are up 28.8% and 42.3%, respectively, vs. the prior 12-month period. Finished steel import market share was an estimated 23% in August and is estimated at 24% over the first eight months of 2022.

 

Key steel products with a significant import increase in August compared to July are heavy structural shapes (up 31%), sheets and strip hot dipped galvanized (up 29%), tin plate (up 21%), sheets and strip all other metallic coatings (up 13%) and cold rolled sheets (up 13%). Products with a significant increase in imports over the 12-month period September 2021 to August 2022 compared to the previous 12-month period include oil country goods (up 105%), wire rods (up 82%), cold rolled sheets (up 59%), plates in coils (up 58%) and line pipe (up 55%).

 

In August, the largest suppliers were Canada (589,000 NT, up 8% vs. July), Mexico (485,000 NT, up 5%), South Korea (177,000 NT, down 37%), Brazil (176,000 NT, down 30%) and Vietnam (107,000 NT, up 110%). Over the 12-month period September 2021 to August 2022, the largest suppliers were Canada (7,002,000 NT, up 9% vs. compared to the previous 12-months), Mexico (5,776,000 NT, up 50%), Brazil (2,987,000 NT, down 16%), South Korea (2,903,000 NT, up 21%) and Vietnam (1,296,000 NT, up 160%).