According to the Census Bureau data released in February 2022, the American Iron and Steel Institute (AISI) reports that the US imported 31,476,000 net tons (NT) of steel in 2021, including 22,770,000 NT of finished steel. This represents a 43.0% increase of imported steel and a 41% increase of finished steel imports versus that of 2020. Below are quick view charts that explain where the steel came from and what import percent growth was realized as well as which products saw an increase in importation.
|Key Steel Products with Significant Increase in Imports for 2021 over 2020.|
|Plates in coils||75%|
|Sheets and strip, all other metallic coatings||69%|
|oil country goods||67%|
|Largest steel importers for 2021|
|Country||Volume in NT||Percent|
|Canada||6,970,000||up 34% vs 2020|
|South Korea||2,748,000||up 36%|
More detailed charts showing the imported products, followed by the countries importing are below. We will be looking further at how to increase production in the US and therefore reduce importation without impairing the supply/demand and price point picture. Stay tuned for a new blog about that coming soon.