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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 2,182,000 net tons (NT) of steel in October 2023, including 1,837,000 net tons (NT) of finished steel (down 0.3% and up 16.2%, respectively, vs. September 2023). Total and finished steel imports are down 9.8% and 14.2%, respectively, year-to-date vs. 2022. Over the 12-month period from November 2022 to October 2023, total and finished steel imports are down 12.9% and 15.4%, respectively, vs. the prior 12-month period. Finished steel import market share was an estimated 19% in October and is estimated at 22% over the first ten months of 2023.

 

Key steel products with a significant import increase in October compared to September are tin plate (up 124%), wire rods (up 81%), heavy structural shapes (up 76%), hot rolled bars (up 45%) and reinforcing bars (up 45%). Products with a significant increase in imports over the 12-month period from November 2022 to October 2023 compared to the previous 12-month period include cut lengths plates (up 18%) and oil country goods (up 13%).

 

In October, the largest suppliers were Canada (557,000 NT, up 4% vs. September), Mexico (309,000 NT, down 14%), South Korea (167,000 NT, down 50%), Japan (134,000 NT, up 102%) and Germany (125,000 NT, up 164%). Over the 12-month period November 2022 to October 2023, the largest suppliers were Canada (6,861,000 NT, down 1% compared to the previous 12-months), Mexico (4,311,000 NT, down 24%), Brazil (3,421,000 NT, up 23%), South Korea (2,600,000 NT, down 11%) and Japan (1,247,000 NT, down 2%).