Preliminary data from the U.S. Census Bureau, reported by the American Iron and Steel Institute (AISI), reveals that U.S. steel imports totaled 28.85 mln tons in 2024, a 2.5pct increase YoY. Finished steel imports rose by 3.7pct to 22.5 mln tons, with the finished steel import market share estimated at 23pct for the year.
Canada, Brazil, and Mexico remained the largest suppliers of steel to the U.S., with Canada supplying 6.55 mln tons, a 5pct decline from the previous year. Brazil increased its exports to 4.49 mln tons, a 14pct growth, while Mexico’s shipments dropped by 16pct to 3.51 mln tons. South Korea supplied 2.8 mln tons, a 7pct rise, and Vietnam saw the most significant growth, with exports surging by 143pct to 1.36 mln tons.
Certain steel products experienced notable import growth in 2024 compared to 2023. These included sheets and strip all other metallic coated, which increased by 52pct, sheets and strip hot-dipped galvanized by 36pct, tin plate by 32pct, cold rolled sheets by 26pct, and wire rods by 19pct. In December 2024, total U.S. steel imports reached 2.12 mln tons, including 1.82 mln tons of finished steel. This represented a 2.7pct increase in total imports and a 14.3pct rise in finished steel imports compared to November 2024.
