Preliminary data from the Census Bureau reveals that the United States imported a total of 2.31 mln tons of steel in May 2023. Among these imports, finished steel amounted to 1.86 mln tons, marking a decrease of 2.6pct and 3.3pct compared to April 2023.
From January to May 2023, both total steel imports and finished steel imports witnessed a YoY decline of 12.5pct and 15.7pct, respectively, reaching 13.95 mln tons and 11.22 mln tons.
The market share of finished steel imports was estimated at 21pct in May, with an estimated 22pct share over the first five months of 2023.
Several key steel products experienced significant increases in imports from April to May. These include cold rolled sheets (up 63pct), cut length plates (up 59pct), sheet and strip hot dipped galvanized (up 30pct), tin plate (up 22pct), and hot rolled sheets (up 19pct). Over the 12-month period from June 2022 to May 2023, notable increases in imports were observed for line pipe (up 36pct), oil country goods (up 35pct), heavy structural shapes (up 14pct), and standard pipe (up 13pct).
In May, the largest suppliers of steel to the United States were Canada (628,000 tons, up 6pct compared to April), Mexico (282,000 tons, down 20pct), Brazil (239,000 tons, up 12pct), South Korea (219,000 tons, up 30pct), and Germany (103,000 tons, down 4pct).
