Steel imports in the USA for the month fell by 0.3% m/m

In October 2023, US steel enterprises increased imports of rolled products by 16.2% compared to September 2023, up to 1.84 million tons. This is evidenced by data from the American Iron and Steel Institute (AISI).

The total volume of steel imports for this period amounted to 2.18 million tons, which is 0.3% less compared to September. The volume of rolled products in the total volume of steel imports to the United States last month amounted to 84.2%.

In January-October 2023, the United States reduced steel imports by 9.8% compared to the same period in 2022 – to 24.03 million tons. Imports of rolled products amounted to 18.56 million tons, down 14.2% y/y.

The main sources of steel imports to the United States in January-October 2023 are Canada, Mexico and South Korea – 5.81 million tons, 3.65 million tons and 3.23 million tons, respectively.

In October 2023, the United States increased steel production by 3.4% compared to the same month in 2022, to 6.8 million tons. Overall, global steel production for the month amounted to 150 million tons, up 0.6% 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 WorldSteel. In 2022 the country reduced steel production by 5.9% compared to 2021 – to 80.7 million tons.