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Steel Imports Down YoY in January

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The U.S. imported 2.6 million net tons of steel in January, including 2 million tons of finished steel. Those totals were up 18.3 percent and 7.3 percent, respectively, compared with December 2022, the American Iron and Steel Institute reported.

In contrast, net imports were down 14.4 percent and finished imports fell 12.2 percent compared with January 2022.

Finished steel import market share was an estimated 24 percent in January.

Key finished steel products with a significant import increase in January compared with the prior month included heavy structural shapes, up 99 percent; cut-length plates, up 83 percent; ingots and billets and slabs, up 79 percent; and sheets and strip and all other metallic coatings, up 55 percent. 

In January, the largest suppliers were Canada at 593,000 tons, up 14 percent compared with December; Mexico at 456,000 tons, up 10 percent; Brazil at 395,000 tons, up 711 percent; adn South Korea at 139,000 tons, down 40 percent.