Increase in Rolled Steel Imports: In May 2024, US steel enterprises increased imports of rolled steel products by 6.6% compared to April, reaching 2.23 million tons, as reported by the AISI.
Total Steel Imports:
Total steel imports, including rolled and semi-finished products, increased by 1.7% from April to May, totaling 2.85 million tons.
Galvanized Steel Imports:
Galvanized steel accounted for the largest volume of imports in May, with 302.9 thousand tons imported, a 16.7% month-on-month increase.
Year-to-Date Import Growth:
From January to May 2024, US steel imports amounted to 13.19 million tons, an 8% increase compared to the same period in 2023.
Rolled Steel Imports Year-to-Date:
During the first five months of 2024, rolled steel product imports increased by 5.5% year-on-year, totaling 9.99 million tons.
Main Sources of Imports:
The primary sources of US steel imports from January to May 2024 were Canada (2.92 million tons), Brazil (2.2 million tons), and Mexico (1.74 million tons).
2023 Import Decline:
In 2023, the US reduced steel imports by 8.7% compared to 2022, with total imports of 28.15 million tons. Rolled steel product imports decreased by 14.1% to 21.69 million tons.