According to preliminary census data from the US Department of Commerce, US monthly steel imports in January 2024 increased 21.6 percent from December to total 2,311,493 mt. A year-on-year comparison shows a 2.4 percent decrease. In terms of value, US steel imports in January totaled $2.88 billion, compared to $2.32 billion in December and $3.29 billion in January 2022.
Top sources for US steel imports in January include: Canada, with 569,239 mt; Brazil, with 488,715 mt; Mexico, with 359,304 mt; South Korea, with 175,037 mt; and Japan, with 104,108 mt.
By product group, semi-finished imports totaled 560,958 mt in January, up from 413,908 mt in December but up from 538,275 mt in January 2022. Flat product imports totaled 897,011 mt in January, up from 751,696 mt in December and 790,167 mt in January 2023. Long product imports totaled 384,444 mt in January, up from 315,082 mt in December but down from 420,702 mt in January 2022. Pipe and tube imports totaled 382,853 mt in January, up from 345,880 mt in December but down from 536,945 mt in January 2022.
According to the American Iron and Steel Institute (AISI), the US steel import market share in January 2024 was estimated at 22 percent, compared to 20 percent in December.