USA imported 2.4 million tons of steel in May

In May 2023, US steel enterprises reduced steel imports by 2.6% compared to April 2023 – to 2.38 million tons. It is stated by data from the American Iron and Steel Institute (AISI).

The volume of rolled products in the total volume of steel imports to the USA in May 2023 was 1.93 million tons. This is 3.3% less than in April 2023.

In January-May 2023, the United States reduced steel imports by 12.5% ​​compared to the same period in 2022 – to 13.96 million tons. The import of rolled products amounted to 11.22 million tons, which is 15.7% less y/y.

The main sources of steel imports in the USA in January-May 2023 are Canada, Mexico and South Korea – 3.01 million tons, 1.91 million tons and 1.66 million tons, respectively.

As GMK Center reported earlier, in May 2023, the USA reduced steel production by 2.3% compared to the same month of 2022 – to 6.9 million tons. In general, global steel output for the month was 161.6 million tons, which is 5.1% less y/y.

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 WorldSteel. In 2022, the US has reduced steel production by 5.9% compared to 2021 – to 80.7 million tons.