Based on preliminary Census Bureau data, the American Iron and Steel Institute (AISI) reported that the U.S. imported a total of 2,255,000 net tons (NT) of steel in February 2023, including 1,716,000 net tons (NT) of finished steel (down 13.5% and 14.3%, respectively, vs. January 2023). Total and finished steel imports are down 9.8% and 9.7%, respectively, year-to-date vs. 2022. Over the 12-month period March 2022 to February 2023, total and finished steel imports are down 6.8% and up 2.7%, respectively, vs. the prior 12-month period. Finished steel import market share was an estimated 22% in February and is estimated at 23% over the first two months of 2023.

A key steel product with a significant import increase in February compared to January was line pipe (up 35%). Products with a significant increase in imports over the 12-month period March 2022 to February 2023 compared to the previous 12-month period include line pipe (up 49%), oil country goods (up 43%), standard pipe (up 39%), heavy structural shapes (up 34%) and tin plate (up 11%).

In February, the largest suppliers were Canada (538,000 NT, down 9% vs. January), Mexico (382,000 NT, down 16%), Brazil (353,000 NT, down 11%), South Korea (225,000 NT, up 63%) and Germany (79,000 NT, down 21%). Over the 12-month period March 2022 to February 2023, the largest suppliers were Canada (6,943,000 NT, no change compared to the previous 12-months), Mexico (5,123,000 NT, down 1%), South Korea (2,804,000 NT, up 2%), Brazil (2,676,000 NT, down 32%) and Japan (1,264,000 NT, up 11%). Below are charts on steel imports by country and estimated finished steel import market share in recent months. (AISI)