US Steel Imports in August Shrink MoM
Strategic Research Institute
Published on :
27 Sep, 2022, 6:23 am
The American Iron and Steel Institute reported today that US imported a total of 2.510 million net tons of steel in August 2022, including 2.084 million net tons of finished steel, down 6.2% and 8.4%, respectively vs July 2022. Total and finished steel imports are up 8.8% and 28.7%, respectively, year-to-date vs 2021. Finished steel import market share was an estimated 23% in August.
Key steel products with a significant import increase in August compared to July are heavy structural shapes up 31%, sheets and strip hot dipped galvanized up 29%, tin plate up 21%, sheets and strip all other metallic coatings up 13% and cold rolled sheets up 13%. In August, the largest suppliers were Canada at 589,000 net tons up 8% vs July, Mexico 485,000 net tons up 5%, South Korea 177,000 net tons down 37%, Brazil 176,000 net tons down 30% and Vietnam 107,000 net tons up 110%.
Over the 12-month period September 2021 to August 2022, total and finished steel imports are up 28.8% and 42.3%, respectively, vs the prior 12-month period. Finished steel import market share was an estimated at 24% over the first eight months of 2022.
Products with a significant increase in imports over the 12-month period September 2021 to August 2022 compared to the previous 12-month period include oil country goods up 105%, wire rods up 82%, cold rolled sheets up 59%, plates in coils up 58% and line pipe up 55%. Over the 12-month period September 2021 to August 2022, the largest suppliers were Canada 7.002 million net ton up 9% vs compared to the previous 12-months, Mexico 5.776 million net ton up 50%, Brazil 2.987 million net ton down 16%, South Korea 2.903 million net ton up 21% and Vietnam 1.296 million net ton up 160%.