Imports of finished steel products to the USA for 8 months of 2022 increased by 28.7% y/y

US steel enterprises in January-August 2022 increased steel imports by 8.8% compared to the same period in 2021 – up to 21.98 million tons. American Iron and Steel Institute’s (AISI) data informs about it.

The amount of finished products in the total volume of steel imports to the USA in January-August 2022 was 17.8 million tons. This is 28.7% more compared to the same period of 2021.

At the same time, in August 2022, the United States reduced steel imports by 6.2% compared to the previous month – to 2.51 million tons. The amount of finished products in the total volume of imports in August 2022 was 2.08 million tons. This by 8.4% less compared to July.

The main sources of steel imports in the USA in the 8 months of 2022 are Canada, Mexico and Brazil – 4.71 million tons, 3.9 million tons and 1.98 million tons, respectively.

In 2021, the USA increased import of steel by 43% compared to 2020 – up to 31.5 million tons. Last year, imports of finished steel products in the USA decreased by 41% year-on-year – to 22.8 million tons.

The United States is among the ten largest steel producing countries in the world, according to World Steel. In 2021, the USA increased steel production by 18.3% compared to 2020 – up to 86 million tons.