Total steel imports in the USA for the month fell by 8.1% m/m

In November 2023, US steel enterprises reduced imports of rolled products by 19.7% compared to October 2023 – to 1.49 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 2.02 million tons, which is 8.1% less than in October. Rolled products accounted for 73.6% of total US steel imports last month, down from 84.2% in October.

In January-November 2023, the United States reduced steel imports by 9% compared to the same period in 2022 – to 26.06 million tons. Imports of rolled steel amounted to 20.07 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 Brazil – 6.35 million tons, 3.89 million tons and 3.61 million tons, respectively.

In November 2023, the United States increased steel production by 6.1% compared to the corresponding month of 2022 – to 6.6 million tons. Overall, global steel production for the month amounted to 145.5 million tons, up 3.3% 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.