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Steel Imports Increase in May

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The U.S. imported 2.7 million tons of steel in May, including 2.3 million finished tons, up 0.2 percent and 3.1 percent, respectively, compared with the prior month. Total and finished steel imports are up 18.4 percent and 40.8 percent in 2022 compared with the previous year, the American Iron and Steel Institute reported.

Finished steel import market share in May was 25 percent, slightly ahead of the 24 percent for the first five months of 2022.

Key steel products with a significant import increase in May compared with April are rebar, up 120 percent; standard pipe, up 46 percent; mechanical tubing, up 23 percent; and hot-rolled cars, up 20 percent. For the year to date, the biggest increases have been seen in OCTG products, up 135 percent;  wire rods, up 120 percent; cold-rolled sheets, up 79 percent; and plates in coils, up 74 percent.

In May, the largest suppliers were Canada at 632,000 net tons, up 3 percent vs. April; Mexico at 482,000 tons, up 23 percent; South Korea at 233,000 tons, down 7 percent; and Turkey at 155,0, up 70 percent. For the past 12 months, the leading suppliers were Canada at 7 million tons, up 19 percent compared with the previous 12-month span; Mexico at 5.5 million tons, up 63 percent;  Brazil at 3.5 million tons, down 6 percent; and South Korea at 2.8 million tons, up 35 percent.

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