The US increased imports of rolled steel by 26.5% m/m in January

In January 2025, US steelmakers increased imports of rolled steel by 26.5% compared to the previous month, to 2.31 million tons. The figure increased by 20.3% compared to January 2024. This is according to the American Iron and Steel Institute (AISI).

Total steel imports (rolled products and semi-finished products) increased by 43.5% m/m and 20.2% y/y – to 3.06 million tons over the month.

The largest imports were steel products for the oil industry – 263.25 thousand tons (+120.7% m/m, +57.7% y/y), hot-dip galvanized flat products – 211.59 thousand tons (+17% m/m, -1.1% y/y), and rods – 183.05 thousand tons (+191.1% m/m, +310.5% y/y). Finished products accounted for 75.2% of total imports.

The main sources of steel imports to the US in January 2025 are Canada, Brazil and Mexico – 649 thousand tons, 585 thousand tons and 470 thousand tons, respectively.

As GMK Center reported earlier, in 2024, the US increased imports of rolled steel by 3.7% compared to 2023, to 22.5 million tons. Total steel imports (rolled products and semi-finished products) increased by 2.5% y/y – to 28.86 million tons. The main sources of steel imports to the United States in 2024 are Canada, Brazil and Mexico – 6.56 million tons, 4.49 million tons and 3.52 million tons, respectively.

US steel production in 2024 fell by 2.4% compared to 2023 – to 79.5 million tons. Overall, global steel production for the year amounted to 1.84 billion tons, down 0.9% y/y. Thus, the United States is among the ten largest steel producing countries in the world according to World Steel.