AISI Reports October Steel Imports: Finished Steel Market Share Increases

October Steel Imports Decline, Finished Steel Sees Growth

The American Iron and Steel Institute (AISI) has released its latest Steel Import Monitoring and Analysis (SIMA) data, revealing that steel import permit applications in October totaled 2.186 million net tons (NT). This represents a 6.3% decline from September’s 2.333 million tons. However, compared to the final September total of 2.137 million tons, October’s imports increased by 2.3%.

Finished steel products accounted for 1.732 million NT of total imports, reflecting a 2.2% increase from September’s 1.695 million tons.

Increases in Key Steel Products

October witnessed significant increases in imports of several key steel products:

• Reinforcing bars: Up 61%

• Hot-rolled sheets: Up 34%

• Heavy structural shapes: Up 28%

• Cut lengths plates: Up 22%

• Tin plate: Up 17%

Year-to-date (YTD) figures indicate even larger gains for:

• Metallic coated sheets and strips: Up 57%

• Hot-dipped galvanized sheets: Up 42%

• Cold-rolled sheets: Up 28%

Top Exporting Countries and YTD Trends

October’s Largest Steel Suppliers to the U.S.:

• Canada: 503,000 NT (+1% from September)

• Mexico: 363,000 NT (+36% from September)

• Brazil: 260,000 NT

• South Korea: 171,000 NT

• Japan: 133,000 NT (+71% from September)

Year-to-Date (YTD) Steel Import Trends:

• Canada remains the top supplier, exporting 5.473 million NT to the U.S. (Down 6% from 2023)

• Brazil’s exports grew by 22% YTD

• Mexico’s exports dropped by 21% YTD

SIMA Data Context and Notes

It’s important to note that SIMA data reflects steel import permit applications, which may not correspond directly to actual import volumes. The final import estimates for October will be released later this month.