Steel Imports Increase in October
By
Metal Center News Staff on
Nov 26, 2024
The U.S. imported 1.84 million tons of finished steel in October, an 8.6 percent increase compared with the same month in 2024, the American Iron and Steel Institute reported. Net imports of steel totaled 2.39 million tons, a 12 percent increase from October 2023.
For the year to date, finished imports were up 2.7 percent and total imports up 2.6 percent compared with 2023. Finished steel market share was estimated at 22 percent in October and is at 23 percent for the first 10 months of 2024.
Key steel products with a significant import increase in October compared with September were rebar, up 129 percent; heavy structural shapes, up 92 percent; cut-length plates, up 55 percent; and hot-rolled sheets, up 51 percent.
In October, the largest suppliers were Canada at 545,000 tons, up 10 percent compared with September; Brazil at 364,000 tons, up 10 percent; Mexico at 361,000 tons, up 35 percent; and South Korea at 162,000 tons, down 40 percent.