Imports decline for a second consecutive year in 2023

Over the past 10 years, only 2020 and 2019 saw fewer imports, with 22,081,660 st and 27,868,850 st, respectively.

2023’s imports were 14% below the last decade’s annual average of 32,831,536 st.

Figure 1 below shows import levels were lower in the latter half of the decade.

When looking at flat-rolled steel imports, 2023 was not a special year. Of the six major flat-rolled steel categories, all were lower year over year (y/y), except for cut-to-length (CTL) plate.

While the other categories saw double-digit y/y declines, cut plate imports rose 21% to a five-year high of almost 650,600 st. Canada and South Korea were the top suppliers, supplying 37% and 34%, respectively, of total CTL plate imports in 2023. Malaysia was the next at 5%, followed by Sweden and Australia, both at 4%.

Compared to their 10-year averages, imports of all the major flat rolled categories were lower (Table 1).