US reduced steel imports by 4% m/m in August

Imports of rolled products into the US increased by 1.4% m/m over the month

US steel enterprises in August 2023 reduced steel imports by 4% compared to July 2023 – to 2.28 million tons. Data from the American Iron and Steel Institute (AISI) informs about it.

The volume of rolled products in the total volume of steel imports to the United States in August 2023 amounted to 1.86 million tons. This is 1.4% more than in July 2023.

In January-August 2023, the United States reduced steel imports by 10.6% compared to the same period in 2022 – to 19.65 million tons. Imports of rolled steel amounted to 17.81 million tons, which is 15.4% less y/y.

The main sources of steel imports to the United States in January-August 2023 were Canada, Mexico and South Korea – 4.72 million tons, 2.98 million tons and 2.67 million tons, respectively.

In July 2023 the United States increased steel production by 1.1% compared to the same month of 2022 – up to 7 million tons. In general, global steel production for the month amounted to 152.6 million tons, which is 2.2% more than year-on-year.

As GMK Center reported earlier, in 2022 the United States reduced steel import by 2% compared to 2021 – to 31.46 million tons. Imports of rolled products into the United States last year decreased by 10.9% year on year – to 22.76 million tons.

The United States is one of the ten largest steel producing countries in the world according to WorldSteel. In 2022 USA reduced steel production by 5.9% compared to 2021 – to 80.7 million tons.