According to preliminary census data from the US Department of Commerce, US monthly steel imports in March 2024 increased 1.5 percent from February to total 2,278,243 mt. A year-on-year comparison shows a 4.1 percent decrease. In terms of value, US steel imports in March totaled $2.76 billion, compared to $2.64 billion in February and $3.18 billion in March 2023.
Top sources for US steel imports in March include: Canada, with 542,085 mt; Brazil, with 355,280 mt; South Korea, with 316,276 mt; Mexico, with 260,318 mt; and Japan, with 98,653 mt.
By product group, semi-finished imports totaled 447,657 mt in March, down from 447,657 mt in February and 626,613 mt in March 2023. Flat product imports totaled 950,426 mt in March, up from 775,828 mt in February and 798,624 mt in March 2023. Long product imports totaled 408,912 mt in March, up from 395,252 mt in February and 324,969 mt in March 2023. Pipe and tube imports totaled 396,872 mt in March, up from 353,369 mt in February but down from 546,875 mt in March 2023.
According to the American Iron and Steel Institute (AISI), the US steel import market share in March 2024 was estimated at 23 percent, compared to 21 percent in February, and 22 percent year-to-date.