The American Iron and Steel Institute has reported that US imported a total of 2.736 million net tons of steel in May 2022, including 2.334 million net tons of finished steel, up 0.2% MoM & 3.1% MoM respectively. Total and finished steel imports are up 18.4% YoY & 40.8% YoY respectively year-to-date vs 2021. Over the 12 month period June 2021 to May 2022, total and finished steel imports are up 47.5% YoY & 55.0% YoY respectively. Finished steel import market share was an estimated 25% in May and is estimated at 24% over the first five months of 2022.Key steel products with a significant import increase in May compared to April are reinforcing bars up 120%, standard pipe up 46%, mechanical tubing up 23%, hot rolled bars up 20% and hot rolled sheets up 11%. In May, the largest suppliers were Canada 0.632 million net tons up 3% vs April, Mexico 0.482 million net tons up 23%, South Korea 0.233 million net tons down 7%, Turkey 0.155 million net tons up 70% and Brazil 0.128 million net tons down 47%.Products with a significant increase in imports over the 12-month period June 2021 to May 2022 compared to the previous 12-month period include oil country goods up 135%, wire rods up 120%, cold rolled sheets up 79%, plates in coils up 74% and hot rolled sheets up 68%. Over the 12-month period June 2021 to May 2022, the largest suppliers were Canada 6,989 million net tons up 19% vs. compared to the previous 12-months, Mexico 5.514 million net tons up 63%, Brazil 3.485 million net tons down 6%, South Korea 2.782 million net tons up 35% and Russia 1.429 million net tons up 149%.
The American Iron and Steel Institute has reported that US imported a total of 2.736 million net tons of steel in May 2022, including 2.334 million net tons of finished steel, up 0.2% MoM & 3.1% MoM respectively. Total and finished steel imports are up 18.4% YoY & 40.8% YoY respectively year-to-date vs 2021. Over the 12 month period June 2021 to May 2022, total and finished steel imports are up 47.5% YoY & 55.0% YoY respectively. Finished steel import market share was an estimated 25% in May and is estimated at 24% over the first five months of 2022.Key steel products with a significant import increase in May compared to April are reinforcing bars up 120%, standard pipe up 46%, mechanical tubing up 23%, hot rolled bars up 20% and hot rolled sheets up 11%. In May, the largest suppliers were Canada 0.632 million net tons up 3% vs April, Mexico 0.482 million net tons up 23%, South Korea 0.233 million net tons down 7%, Turkey 0.155 million net tons up 70% and Brazil 0.128 million net tons down 47%.Products with a significant increase in imports over the 12-month period June 2021 to May 2022 compared to the previous 12-month period include oil country goods up 135%, wire rods up 120%, cold rolled sheets up 79%, plates in coils up 74% and hot rolled sheets up 68%. Over the 12-month period June 2021 to May 2022, the largest suppliers were Canada 6,989 million net tons up 19% vs. compared to the previous 12-months, Mexico 5.514 million net tons up 63%, Brazil 3.485 million net tons down 6%, South Korea 2.782 million net tons up 35% and Russia 1.429 million net tons up 149%.
