Based on preliminary Census Bureau data, the American Iron and Steel Institute (AISI) reported that the U.S. imported a total of 2,369,000 net tons (NT) of steel in April 2023, including 1,933,000 net tons (NT) of finished steel (down 9.4% and up 1.4%, respectively, vs. March 2023). Total and finished steel imports are down 11.9% and 14.5%, respectively, year-to-date vs. 2022. Over the 12-month period May 2022 to April 2023, total and finished steel imports are down 11.7% and 6.1%, respectively, vs. the prior 12-month period. Finished steel import market share was an estimated 23% in April and is estimated at 23% over the first four months of 2023.
Key steel products with a significant import increase in April compared to March are reinforcing bars (up 106%), heavy structural shapes (up 76%), wire drawn (up 13%) and wire rods (up 12%). Products with a significant increase in imports over the 12-month period May 2022 to April 2023 compared to the previous 12-month period include line pipe (up 42%), oil country goods (up 41%), standard pipe (up 25%) and heavy structural shapes (up 18%).
In April, the largest suppliers were Canada (594,000 NT, down 10% vs. March), Mexico (345,000 NT, down 21%), Brazil (213,000 NT, down 53%), South Korea (168,000 NT, down 10%) and Japan (130,000 NT, up 11%). Over the 12-month period May 2022 to April 2023, the largest suppliers were Canada (6,933,000 NT, no change compared to the previous 12-months), Mexico (4,970,000 NT, down 7%), Brazil (2,759,000 NT, down 25%), South Korea (2,588,000 NT, down 9%) and Japan (1,309,000 NT, up 12%).
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