According to GMK, the United States saw a significant increase in rolled steel imports during May 2024, according to data from the American Iron and Steel Institute (AISI). Imports climbed 6.6% compared to April, reaching 2.23 million tons. This rise comes after a more modest overall increase of 1.7% for total steel imports (including both rolled and semi-finished products) which reached 2.85 million tons in May.
Galvanized steel was a particular area of strength, with imports surging by 16.7% month-on-month to 302,900 tons. Notably, finished steel products continued to dominate total imports, accounting for 78.3%.
Looking year-to-date, steel imports into the US have grown by 8% compared to the same period in 2023, reaching 13.19 million tons. Rolled steel imports specifically have seen a 5.5% year-on-year increase, totaling 9.99 million tons so far this year. Once again, galvanized steel topped the list with imports reaching 1.3 million tons, reflecting a substantial 39.9% rise year-over-year.
Canada, Brazil, and Mexico remain the primary sources of US steel imports. In the first five months of 2024, these countries supplied 2.92 million tons, 2.2 million tons, and 1.74 million tons respectively.