News Global Market US 27 January 2023
The import of finished steel products in the USA for the year increased by 10.9% y/y
In 2022, US steel enterprises reduced steel imports by 2% compared to 2021 – to 31.46 million tons. Data from the American Iron and Steel Institute (AISI) informs about it.
The amount of finished products in the total volume of steel imports to the USA in 2022 was 22.76 million tons. This is 10.9% more compared to the previous year.
At the same time, in December 2022, the United States increased steel imports by 8.6% compared to the same month in 2021 – up to 2.01 million tons. The amount of finished products in the total volume of imports for December 2022 was 1.85 million tons. This is 4.8% more compared to December 2021.
The main sources of steel imports to the USA in 2022 are Canada, Mexico, and South Korea – 6.86 million tons, 4.76 million tons, and 2.75 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.