USA reduced steel imports by 10.7% y/y in the first half of the year 2023

In January-June 2023, US steel enterprises reduced steel imports by 10.7% compared to the same period in 2022 – to 16.79 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 in the USA for the first half of the year amounted to 13.45 million tons, which is 14.9% less than in January-June 2022.

Semi-finished products (slabs and billets) accounted for the largest import volumes for half a year – 3.54 million tons (+6.3% y/y). Another 1.11 million tons of galvanized sheets and strips were imported (-32% y/y), and 1 million t of hot-rolled sheets (-28.5% y/y).

In June 2023, the import of steel to the United States increased by 20.3% compared to the previous month – up to 2.79 million tons. The import of rolled steel for the month amounted to 1.99 million tons, which is 6.4% more month-on-month.

The main sources of steel imports in the USA in January-June 2023 are Canada – 3.64 million tons (+1.8% y/y), Mexico – 2.32 million tons (-21.3% y/y) y.) and Brazil – 1.55 million tons (+33.5% y/y).

In June 2023, USA increased steel production by 0.5% compared to the same month of 2022 – up to 6.8 million tons. In general, global steel output for the month was 158.8 million tons, which is 0.1% less y/y.

As GMK Center rpeorted 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 World Steel. In 2022, the country reduced steel production by 5.9% compared to 2021 – to 80.7 million tons.