Based on preliminary Census Bureau data, the American Iron and Steel Institute (AISI) reported that the U.S. imported a total of 2,082,000 net tons (NT) of steel in December 2023, including 1,614,000 net tons (NT) of finished steel (up 2.6% and 7.7%, respectively, vs. November 2023). Full year 2023 total and finished steel imports were 28,156,000 and 21,694,000 net tons (NT), down 8.7% and 14.1%, respectively, vs 2022. Finished steel import market share was an estimated 20% in December and is estimated at 21% for full year 2023.
Key steel products with a significant import increase in December compared to November are oil country goods (up 52%), hot rolled sheets (up 38%), plates in coils (up 28%), line pipe (up 27%) and cut lengths plates (up 21%). Products with a significant increase in imports for the full year of 2023 vs. 2022 include cut lengths plates (up 20%) and ingots, billets and slabs (up 16%).
In December, the largest suppliers were Canada (539,000 NT, up 1% vs. November), Brazil (335,000 NT, down 12%), Mexico (291,000 NT, up 18%), South Korea (269,000 NT, up 91%) and Germany (106,000 NT, up 103%). For full year 2023, the largest suppliers were Canada (6,885,000 NT, unchanged vs. 2022), Mexico (4,184,000 NT, down 21%), Brazil (3,942,000 NT, up 54%), South Korea (2,637,000 NT, down 6%) and Japan (1,189,000 NT, down 6%). Below are charts on steel imports by country and estimated finished steel import market share in recent months.
Source: AISI
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