The import of finished steel products in the USA for the month increased by 9% m/m

In March 2023, US steel enterprises increased steel imports by 14.2% compared to February 2023 – up to 2.61 million tons. Data from the American Iron and Steel Institute (AISI) inform about it.

The volume of finished products in the total volume of steel imports to the USA in March 2023 was 1.91 million tons. This is 9% more compared to February 2023.

In January-March 2023, the States reduced steel imports by 11.5% compared to the same period in 2022 – to 7.51 million tons. The import of finished steel products amounted to 5.66 million tons, which is 14.5% less y/y.

In the first quarter of 2023, the main sources of steel imports in the USA are Canada, Mexico and South Korea – 1.79 million tons, 1.27 million tons and 1.2 million tons, respectively.

In March 2023, the USA reduced steel production by 2.1% compared to the same month of 2022 – to 6.7 million tons. In general, the global steel output for the month was 165.1 million tons, which is 1.7% more y/y.

As GMK Center reported earlier, in 2022, the USA reduced import of steel by 2% compared to 2021 – to 31.46 million tons. Last year, imports of finished steel products in the USA decreased by 10.9% year-on-year – to 22.76 million tons.

The United States is among the ten largest steel producing countries in the world according to World Steel. In 2022 the US has reduced steel production by 5.9% compared to 2021 – to 80.7 million tons.