Finished Import Market Share YTD at 24%
Based on preliminary Census Bureau data, the American Iron and Steel Institute (AISI) reported that the U.S. imported a total of 3,091,000 net tons (NT) of steel in March 2022, including 2,498,000 net tons (NT) of finished steel (up 31.6% and 35.8%, respectively, vs. February 2022). Through the first three months of 2022, total and finished steel imports are up 28% and 48.3%, respectively, vs. the same period in 2021. Over the 12-month period from April 2021 to March 2022, total and finished steel imports are up 49.9% and 54.9%, respectively, vs. the prior 12-month period. Finished steel import market share was an estimated 26% in March and is estimated at 24% over the first three months of 2022.
Key finished steel products with a significant import increase in March compared to February are standard pipe (89%), hot rolled sheets (up 69%), wire rods (up 67%), plates in coils (up 54%), and sheet and strip hot dipped galvanized (up 36%). Products with a significant increase in imports over the 12-month period April 2021 to March 2022 compared to the previous 12-month period include oil country goods (up 113%), wire rods (up 101%), hot rolled sheets (up 91%), plates in coils (up 89%) and sheets and strip all other metallic coated (up 76%).
In March, the largest suppliers were Canada (651,000 NT, up 39% vs. February), Mexico (542,000 NT, up 21%), Brazil (347,000 NT, up 31%), South Korea (321,000 NT, up 48%) and Vietnam (167,000 NT, up 133%). Over the 12-month period April 2021 to March 2022, the largest suppliers were Canada (6,943,000 NT, up 30% vs. compared to the previous 12-months), Mexico (5,356,000 NT, up 60%), Brazil (4,104,000 NT, up 3%), South Korea (2,844,000 NT, up 37%) and Russia (1,602,000 NT, up 237%). (AISI)
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