Washington, D.C. – Based on preliminary Census Bureau data, the American Iron and Steel Institute (AISI) reported today that the U.S. imported a total of 2,672,000 net tons (NT) of steel in July 2022, including 2,274,000 net tons (NT) of finished steel (down 5.7% and up 2.1%, respectively, vs. June 2022). Total and finished steel imports are up 10.4% and 31.8%, respectively, year-to-date vs. 2021. Over the 12-month period August 2021 to July 2022, total and finished steel imports are up 35.7% and 47.1%, respectively, vs. the prior 12-month period. Finished steel import market share was an estimated 25% in July and is estimated at 25% over the first seven months of 2022.
Key steel products with a significant import increase in July compared to June are wire rods (up 94%), reinforcing bars (up 42%), cut length plates (up 22%) and oil country goods (up 21%). Products with a significant increase in imports over the 12-month period August 2021 to July 2022 compared to the previous 12-month period include oil country goods (up 111%), wire rods (up 92%), plates in coils (up 63%), cold rolled sheets (up 61%) and heavy structural shapes (up 53%).
In July, the largest suppliers were Canada (544,000 NT, down 14% vs. June), Mexico (460,000 NT, down 12%), South Korea (279,000 NT, down 7%), Brazil (252,000 NT, up 26%) and Japan (173,000 NT, up 76%). Over the 12-month period August 2021 to July 2022, the largest suppliers were Canada (7,010,000 NT, up 12% compared to the previous 12-months), Mexico (5,692,000 NT, up 53%), Brazil (3,144,000 NT, down 3%), South Korea (2,886,000 NT, up 23%) and Vietnam (1,262,000 NT, up 179%). Below are charts on steel imports by country and estimated finished steel import market share in recent months.
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AISI serves as the voice of the American steel industry in the public policy arena and advances the case for steel in the marketplace as the preferred material of choice. AISI’s membership is comprised of integrated and electric arc furnace steelmakers, and associate members who are suppliers to or customers of the steel industry. For more news about steel and its applications, view AISI’s website at www.steel.org. Follow AISI on Facebook, LinkedIn, Twitter (@AISISteel) or Instagram.
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