According to the data obtained from the American Iron and Steel Institute (AISI), US steel imports (rolled and semi-finished products) in January 2024 were recorded at 2.55 million tons, up by 21.7% from December 2023.
Rolled steel imports increased by 18% in January 2024 compared to the previous month to 1.91 million tons. Galvanized steel products accounted for the largest import volume, rose by 11.1% y-o-y to 213.8 million tons, while finished products accounted for 75.1% of total imports.
On a year-on-year basis, however, US steel imports, including finished products, were down 4.4% in January 2024 compared to January 2023.
The main import destinations in January were Canada, Mexico and Brazil with 627 thousand tons, 468 thousand tons and 396 thousand tons, respectively.
In 2023, US steel imports were recorded at 28.15 million tons, down 8.7% compared to 2022.
Imports of rolled steel products in 2023 decreased by 14.1% compared to 2022 to 21.69 million tons. The main import destinations during this period were Canada, Mexico and Brazil with 6.88 million tons, 4.18 million tons and 3.94 million tons, respectively.
In 2023, the decline in US steel imports was attributed to high import tariffs, increased domestic production, and weak demand for steel due to economic challenges.
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