Steel Imports Down 2.2% in August vs. July

Finished Import Market Share YTD at 23%

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 2,367,000 net tons (NT) of steel in August 2024, including 1,828,000 net tons (NT) of finished steel (down 2.2% and 9.4%, respectively, vs. July 2024). Total and finished steel imports are up 2.4% and 2.6%, respectively, year-to-date vs. 2023. Over the 12-month period September 2023 to August 2024, total and finished steel imports are up 0.4% and down 2.2%, respectively, vs. the prior 12-month period. Finished steel import market share was an estimated 21% in August and is estimated at 23% over the first eight months of 2024.

Key steel products with a significant import increase in August compared to July are blooms, billets and slabs (up 34%), oil country goods (up 34%), sheets and strip all other metallic coated (up 32%) and line pipe (up 22%). Products with a significant increase in imports over the 12-month period September 2023 to August 2024 compared to the previous 12-month period include sheets and strip all other metallic coated (up 48%), sheets and strip hot dipped galvanized (up 28%), wire rods (up 22%), heavy structural shapes (up 12%) and cold rolled sheets (up 11%).

In August, the largest suppliers were Canada (500,000 NT, down 8% vs. July), Brazil (454,000 NT, up 10%), South Korea (268,000 NT, up 31%), Mexico (161,000 NT, down 5%) and Japan (77,000 NT, down 47%). Over the 12-month period September 2023 to August 2024, the largest suppliers were Canada (6,687,000 NT, down 3% compared to the previous twelve months), Brazil (4,654,000 NT, up 43%), Mexico (3,486,000 NT, down 21%), South Korea (2,898,000 NT, up 11%) and Japan (1,176,000 NT, down 4%). Below are charts on steel imports by country and estimated finished steel import market share in recent months.

Read the full statistical report here.

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Contact: Lisa Harrison

202.452.7115 / [email protected]

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 comprisedof integrated and electric arc furnace (EAF) steelmakers reflecting the production of both carbon and stainless steels which are critical to the everyday lives of all Americans - including national security, roads and bridges, the electrical grid, clean energy technologies and the automotive market. AISI also representsassociate 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.