The USA increased steel imports by 9.4% m/m in April

The import of rolled steel in the USA for the month increased by 1.4% m/m

In April 2023, US steel enterprises increased steel imports by 9.4% compared to March 2023 – up to 2.37 million tons. It is reported by data from the American Iron and Steel Institute (AISI).

The volume of rolled steel in the total volume of steel imports to the USA in April 2023 was 1.91 million tons. This is 1.4% more than in March 2023.

In January-April 2023, the United States reduced steel imports by 11.9% compared to the same period in 2022 – to 11.21 million tons. The import of rolled products amounted to 8.88 million tons, which is 14.5% less y/y.

Canada, Mexico and South Korea are the main sources of steel imports to the USA in January-April of this year – 2.38 million tons, 1.62 million tons, and 1.42 million tons, respectively.

In April 2023, the USA reduced steel production by 5.3% compared to the same month of 2022 – to 6.6 million tons. In general, global steel output for the month amounted to 161.4 million tons, which is 2.4% 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 rolled steel to 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.