USA reduced steel imports by 15.2% m/m in July

In July 2023, USA metallurgical enterprises reduced steel imports by 15.2% compared to June 2023, to 2.37 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 in the United States in July 2023 amounted to 1.83 million tons, which is 8.1% less compared to July 2023.

In January-July 2023, the United States reduced steel imports by 10.7% compared to the same period in 2022, to 17.38 million tons. Rolled metal imports amounted to 13.29 million tons, which is 15.5% less y/y.

The main sources of steel imports to the United States in January-July this year are Canada, Mexico and South Korea – 4.17 million tons, 2.61 million tons and 2.46 million tons, respectively.

Recall that in July 2023, the United States increased steel production by 0.5% compared to the corresponding month of 2022 to 6.5 million tons. In general, global steel production for the month amounted to 158.5 million tons, which is 6.6% more 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.