Steel Imports Up 12.0% In October vs. September

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 2,394,000 net tons (NT) of steel in October 2024, including 1,840,000 net tons (NT) of finished steel (up 12.0% and 8.6%, respectively, vs. September 2024). Total and finished steel imports are up 2.6% and 2.7%, respectively, year-to-date vs. 2023. Over the 12-month period November 2023 to October 2024, total and finished steel imports are up 1.9% and unchanged, respectively, vs. the prior 12-month period. Finished steel import market share was an estimated 22% in October and is estimated at 23% over the first ten months of 2024.

Key steel products with a significant import increase in October compared to September are reinforcing bars (up 129%), heavy structural shapes (up 92%), cut lengths plates (up 55%), hot rolled sheets (up 51%) and blooms, billets and slabs (up 25%). Products with a significant increase in imports over the 12-month period November 2023 to October 2024 compared to the previous 12-month period include sheets and strip all other metallic coated (up 55%), sheets and strip hot dipped galvanized (up 37%), wire rods (up 21%), cold rolled sheets (up 19%) and heavy structural shapes (up 16%).

In October, the largest suppliers were Canada (545,000 NT, up 10% from September), Brazil (364,000 NT, up 10%), Mexico (361,000 NT, up 35%), South Korea (162,000 NT, down 40%), Japan (138,000 NT, up 77%) and Germany (138,000 NT, up 73%). Over the 12-month period November 2023 to October 2024, the largest suppliers were Canada (6,634,000 NT, down 3% compared to the previous twelve months), Brazil (4,793,000 NT, up 40%), Mexico (3,447,000 NT, down 20%), South Korea (2,831,000 NT, up 9%) and Vietnam (1,221,000 NT, up 126%). 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 comprised of 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 represents 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.