Based on preliminary census data from the US Department of Commerce, US monthly steel imports witnessed a significant increase in June 2023, rising by 20.2 percent compared to May, reaching a total of 2,533,474 metric tons. However, when comparing year-on-year, there was a slight decrease of 1.5 percent.
In terms of value, US steel imports for June amounted to $3.23 billion, showing an increase compared to May's $3.07 billion, but a decrease compared to the $4.05 billion recorded in June 2022.
Canada emerged as the top source for US steel imports in June, supplying 570,073 metric tons. Following Canada were Brazil with 379,965 metric tons, Mexico with 378,392 metric tons, South Korea with 339,921 metric tons, and China with 103,654 metric tons.
Breaking down the imports by product group, semi-finished imports saw a significant increase in June, reaching 711,127 metric tons, compared to 393,811 metric tons in May and 533,981 metric tons in June 2022. Flat product imports, on the other hand, decreased to 835,168 metric tons in June, down from 865,921 metric tons in May and 1,025,414 metric tons in June 2022. Long product imports increased to 488,315 metric tons in June, up from 356,209 metric tons in May and 453,572 metric tons in June 2022. Lastly, pipe and tube imports reached 423,744 metric tons in June, showing an increase from May's 412,042 metric tons but a decrease from June 2022's 447,244 metric tons.
According to the American Iron and Steel Institute (AISI), the US steel import market share in June 2023 was estimated to be 23 percent, showing an increase compared to May's 21 percent and maintaining the same level as the year-to-date figure.
Vietnam Steel by Hoa Sen Group