The American Iron and Steel Institute has reported that US imported a total of 2,339,000 net tons of steel in February 2022, including 1,831,000 net tons of finished steel, down 23.1% and 19.7%, respectively from January 2022. Total and finished steel imports are up 23.2% and 27.6%, respectively as compared to February 2021. Over the 12-month period March 2021 to February 2022, total and finished steel imports are up 50.1% YoY and 53.1% YoY, respectively. Finished steel import market share was an estimated 22% in February and is estimated at 23% over the first two months of 2022.Key finished steel products with a significant import increase in February compared to January are reinforcing bars up 96%, heavy structural shapes up 34% and line pipe up 19%. In February, the largest suppliers were Canada at 470,000 net tons down 19% MoM, Mexico 446,000 net tons down 22%, Brazil 264,000 net tons down 30%, South Korea 217,000 net tons up 37% and Vietnam 71,000 net tons down 50%.Products with a significant increase in imports over the 12-month period March 2021 to February 2022 compared to the previous 12-month period include hot rolled sheets up 93%, sheets and strip all other metallic coated up 92%, oil country goods up 91%, wire rods up 86% and plates in coils up 85%. Over the 12-month period March 2021 to February 2022, the largest suppliers were Canada at 6,935,000 net tons up 33% YoY, Mexico 5,160,000 net tons up 58%, Brazil 3,929,000 net tons up 3%, South Korea 2,762,000 net tons up 36% and Russia 1,688,000 net tons up 299%.
The American Iron and Steel Institute has reported that US imported a total of 2,339,000 net tons of steel in February 2022, including 1,831,000 net tons of finished steel, down 23.1% and 19.7%, respectively from January 2022. Total and finished steel imports are up 23.2% and 27.6%, respectively as compared to February 2021. Over the 12-month period March 2021 to February 2022, total and finished steel imports are up 50.1% YoY and 53.1% YoY, respectively. Finished steel import market share was an estimated 22% in February and is estimated at 23% over the first two months of 2022.Key finished steel products with a significant import increase in February compared to January are reinforcing bars up 96%, heavy structural shapes up 34% and line pipe up 19%. In February, the largest suppliers were Canada at 470,000 net tons down 19% MoM, Mexico 446,000 net tons down 22%, Brazil 264,000 net tons down 30%, South Korea 217,000 net tons up 37% and Vietnam 71,000 net tons down 50%.Products with a significant increase in imports over the 12-month period March 2021 to February 2022 compared to the previous 12-month period include hot rolled sheets up 93%, sheets and strip all other metallic coated up 92%, oil country goods up 91%, wire rods up 86% and plates in coils up 85%. Over the 12-month period March 2021 to February 2022, the largest suppliers were Canada at 6,935,000 net tons up 33% YoY, Mexico 5,160,000 net tons up 58%, Brazil 3,929,000 net tons up 3%, South Korea 2,762,000 net tons up 36% and Russia 1,688,000 net tons up 299%.
