The USA reduced steel imports by 17% m/m in November 2022

Imports of finished steel products in the USA for the month fell by 10.7% m/m

US steel enterprises in November 2022 reduced steel imports by 17% compared to the previous month – to 2 million tons. The data from the American Iron and Steel Institute (AISI) informs about it.

The volume of finished products to the United States in November 2022 was 1.76 million tons. This is 10.7% less compared to October 2022.

At the same time, in January-November 2022, the United States increased steel imports by 0.2% compared to the same period in 2021 – up to 28.64 million tons. The volume of finished products for 11 months of 2022 was 23.39 million tons. This is 14.1% more compared to January-November 2021.

The main sources of steel imports in the USA in the 11 months of 2022 are Canada, Mexico and South Korea – 6.34 million tons, 4.89 million tons and 2.58 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.