Analysis
June 9, 2026
Foreign slab flows reset as top suppliers pull back
Written by Laura Miller
Two countries have ramped up slab exports to the US in the wake of declining tonnages from other major suppliers, despite overall slab imports falling by nearly a third from last year.
Total imports of carbon and alloy slabs reached 1,536,900 short tons (st) in the first four months of this year, a 29.6% decline from the same period last year, according to the US government’s Steel Import Monitor.
(Note: this analysis uses preliminary figures for April 2026.)
Tonnages down bigly
Imports are down significantly from the three countries that had previously been the top suppliers of slab.
Brazil remains the top origin for foreign slab, but its shipments are down by nearly half from last year. Imports of Brazilian slab totaled 788,879 st in the first four months of 2026, averaging 197,220 st per month, and down 48.3% year over year (y/y).
Slab imports from Canada and Mexico are also down considerably, though the USMCA partners are still the fourth- and second-largest suppliers, respectively. From January to April, Canada sent 80,447 st of slab to the US, down 42.2% y/y, with a monthly average of 20,112 st. Slab imports from Mexico, meanwhile, are down just 10.4% y/y at 437,583 st, with a four-month average of 109,396 st.
Tonnages up notably
At the same time, Vietnam and Japan have increased their slab shipments to the US.
Vietnam has taken the top-three spot for foreign slab, sending 153,618 st of slab in the first four months of the year, averaging 38,405 st per month. It did not send any slab during all of 2024 or 2025.
Japan has also stepped up its slab game, with shipments to the US jumping 170% y/y. It is now the fifth-largest slab supplier, having shipped 75,602 st in the first four months of 2026, averaging 18,900 st per month.
Price factor
Japan and Vietnam have also been providing the lowest-cost slabs so far this year, at average prices of $403.63/st and $423.59/st, respectively, according to the US import figures.
Brazilian slab has averaged $513.14/st, Mexican slab $531.13/st, and Canadian slab $731.35/st in the first four months of 2026.
All prices exclude any applicable tariffs or duties.
| Top slab exporters to US | Jan-April 2025 | Jan-April 2026 | % Change |
|---|---|---|---|
| Brazil | 1,525,777 | 788,879 | -48.3% |
| Mexico | 488,538 | 437,583 | -10.4% |
| Vietnam | 0 | 153,618 | – |
| Canada | 139,192 | 80,447 | -42.2% |
| Japan | 27,984 | 75,602 | 170.2% |
| Total slab imports, all countries | 2,181,748 | 1,536,900 | -29.6% |
