Over 9 months, the figure declined by 9.6% y/y

In September this year, the United States decreased its total steel imports by 2.9% compared to the previous month – to 2.36 million short tons. This was reported by the American Iron and Steel Institute (AISI).

In particular, imports of finished steel products in September amounted to 1.64 million short tons (+1.1% m/m).

In January–September this year, total steel imports and finished steel imports decreased by 9.6% and 13.8% y/y – to 18.35 million and 13 million short tons, respectively.

The import market share of finished steel products in January–September is estimated at 16%.

In September, the largest steel suppliers to the United States were:

• South Korea – 519,000 short tons (+21% compared to August);

• Brazil – 349,000 tons (-0.6%);

• Mexico – 267,000 tons (+5.2%);

• Canada – 256,000 tons (-13.4%);

• Japan – 165,000 tons (+60.3%).

As a reminder, in August this year, the US increased its total steel imports by 3.4% compared to the previous month – to 2.34 million short tons.

Domestic steel prices in the US have risen to their highest level in more than four years. The main driver of this increase is tighter import restrictions and changes in trade policies, which have limited steel imports and supported domestic steel producers. However, these measures have also significantly increased raw material costs for American industrial and manufacturing companies. As a result, US hot rolled steel prices are currently about two-thirds higher than in Europe and nearly three times higher than in China.