Steel Imports Decline in November, According to AISI SIMA Data

The latest Steel Import Monitoring and Analysis (SIMA) data from the U.S. Department of Commerce, released by the American Iron and Steel Institute (AISI), shows a decrease in U.S. steel imports for November 2024. The total steel import permit applications for November stood at 2.12 million net tons (NT), a 5.1% drop from the 2.24 million tons recorded in October. This decline is also notable when compared to the 2.40 million tons of final imports in October, marking an 11.3% reduction.

Finished Steel Imports Also Fall
Finished steel imports saw an even steeper decline of 10%, with 1.66 million tons in November compared to 1.84 million tons in October. While there has been a reduction in November, the year-to-date total for steel imports (up 2.8%) and finished steel imports (up 3.3%) show an overall increase compared to the same period in 2023. The share of finished steel imports in November was 21%, slightly lower than the year-to-date figure of 23%.

Steel Products with Significant Increases
Despite the overall decrease in imports, some steel products saw notable increases in November permit applications. Electrical sheet and strip imports surged by 160%, while oil country goods increased by 74%. Other products that saw growth included sheet and strip all other metallic coated (up 51%), standard pipe (up 11%), and line pipe (up 11%). Comparing year-to-date totals with 2023, the largest increases were seen in sheets and strip all other metallic coated (up 51%), hot-dipped galvanized sheets (up 40%), cold-rolled sheets (up 28%), tin plate (up 27%), and wire rods (up 19%).

Top Steel Exporting Countries to the U.S.
Canada remained the largest supplier of steel to the U.S. in November, with 476,000 tons, despite a 13% decrease from October. Brazil followed with 306,000 tons (down 16%), while Mexico (268,000 tons, down 26%), South Korea (186,000 tons, up 15%), and Vietnam (144,000 tons, up 42%) rounded out the top five. Over the first 11 months of 2024, Canada has supplied the most steel to the U.S. (5.99 million tons), though this represents a 6% decrease from 2023. In contrast, Brazil saw a 21% increase in its exports to the U.S. year-to-date.

SIMA Data Overview
It’s important to note that SIMA data represents import permit applications, not actual import volumes. These figures may sometimes understate or overstate the actual tonnages, as the final, more precise estimates will be available later this month.