Based on preliminary Census Bureau data, the American Iron and Steel Institute (AISI) reported that the U.S. imported a total of 2,614,000 net tons (NT) of steel in March 2023, including 1,906,000 net tons (NT) of finished steel (up 14.2% and 9.0%, respectively, vs. February 2023). Total and finished steel imports are down 11.5% and 14.5%, respectively, year-to-date vs. 2022. Over the 12-month period April 2022 to March 2023, total and finished steel imports are down 10.3% and 2.5%, respectively, vs. the prior 12-month period. Finished steel import market share was an estimated 22% in March and is estimated at 23% over the first three months of 2023.
Key steel products with a significant import increase in March compared to February are cut lengths plates (up 53%), tin plate (up 44%), hot rolled sheets (up 41%), ingots and billets and slabs (up 31%) and oil country goods (up 29%). Products with a significant increase in imports over the 12-month period April 2022 to March 2023 compared to the previous 12-month period include line pipe (up 46%), oil country goods (up 42%), standard pipe (up 29%), heavy structural shapes (up 20%) and tin plate (up 11%).
In March, the largest suppliers were Canada (660,000 NT, up 23% vs. February), Brazil (457,000 NT, up 30%), Mexico (437,000 NT, up 14%), South Korea (187,000 NT, down 17%) and Japan (117,000 NT, up 117%). Over the 12-month period April 2022 to March 2023, the largest suppliers were Canada (6,950,000 NT, no change compared to the previous 12-months), Mexico (5,018,000 NT, down 6%), Brazil (2,787,000 NT, down 32%), South Korea (2,670,000 NT, down 6%) and Japan (1,278,000 NT, up 11%). AISI
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