U.S. Steel Imports Fall in February 2025, But Some Products See Growth
According to the latest data from the U.S. Department of Commerce’s Steel Import Monitoring and Analysis, February 2025 saw a notable 26.4% decrease in steel import permit applications, totaling 2,137,000 v tons compared to 2,904,000 v tons in January. This decline also mirrored a 30.4% decrease from the final imports total of 3,072,000 net tons in January, suggesting a temporary slowdown in steel imports for the month.
Despite the overall decrease in permits, there were specific steel products that experienced significant increases in import permits compared to the final imports from January. For instance, electrical sheet and strip imports surged by 135%, standard rail and electrolytic galvanized sheets and strips both rose by 77%, and imports of ingots and steel for castings went up by 52%. Additionally, imports of tool steel rose by 25%.
This data indicates that while overall steel imports fell in February, certain sectors within the steel industry are experiencing growth, particularly in products related to the electrical and rail sectors.
Finished Steel Imports Experience Decline
A breakdown of finished steel imports for February 2025 shows a sharper decline in comparison to total steel imports. In February, finished steel import permits stood at 1,566,000 net tons, reflecting a 32.1% decrease from the final imports total of 2,307,000 net tons in January. However, year-to-date data shows that finished steel imports for the first two months of 2025 have increased by 5.8%, totaling 3,874,000 net tons compared to the same period in 2024.
The market share for finished steel imports in February 2025 was estimated to be 21%, with the YTD share at 24%, signaling that while total imports are down, the proportion of finished steel imports remains relatively stable.
Year-to-Date Import Trends
Looking at the year-to-date performance for 2025, steel imports show mixed results. Total steel imports have increased by 3.8% in the first two months of 2025 compared to the same period in 2024, reaching 5,209,000 net tons. Finished steel imports for this period also saw an increase, rising by 5.8% to 3,874,000 net tons.
The largest steel importers into the U.S. in February 2025 were Canada, Brazil, Mexico, South Korea, and Japan, with Canada leading the charge. However, the import volumes from these countries varied, with significant declines from Canada, Brazil, and Mexico, down by 30%, 30%, and 36% respectively, while imports from Japan showed a 10% increase compared to January.
Products With Significant Increases
A closer look at the specific steel products reveals that some sectors are experiencing significant growth. Tin plate saw the largest increase in year-to-date imports, rising by 101%. Other steel products that saw notable increases include:
• Line pipe: Up 60%
• Reinforcing bars: Up 50%
• Wire rods: Up 29%
• Plates in coils: Up 24%
These increases may be attributed to various factors, including rising demand for certain products in industries like construction and energy, as well as changes in global trade flows and production capacity.
Regional Distribution of Imports
For February 2025, the largest steel import permit applications came from:
• Canada: 455,000 net tons, down 30% from January
• Brazil: 412,000 net tons, down 30%
• Mexico: 303,000 net tons, down 36%
• South Korea: 194,000 net tons, down 41%
• Japan: 107,000 net tons, up 10%
As for the year-to-date figures, Canada remains the largest supplier of steel to the U.S. with 1,103,000 net c tons (down 5%), followed by Brazil with 998,000 net tons (up 2%), and Mexico with 775,000 net tons (up 7%). This trend reflects the ongoing shifts in the steel import landscape, as supply chains adapt to market conditions and global trade policies.
Conclusion on Steel Import Permits
The data from February 2025 suggests a temporary slowdown in the overall U.S. steel import market, but there are signs of growth in specific sectors, particularly those related to electrical and rail products. The sharp decline in import permits for finished steel may indicate short-term disruptions or shifts in supply chain dynamics. However, the year-to-date data shows overall growth in steel imports, especially for products like tin plate and line pipe. The evolving dynamics of global trade and protectionism, along with U.S. trade policies, will continue to influence steel imports and market trends in the coming months.
Key Takeaways:
• Steel Import Decline: Total steel import permits for February 2025 dropped by 26.4%, totaling 2,137,000 metric tons, compared to 2,904,000 metric tons in January.
• Finished Steel Imports: Finished steel imports saw a 32.1% decrease in February, amounting to 1,566,000 net tons, compared to 2,307,000 net tons in January.
• Increase in Specific Products: Several steel products saw notable increases in imports, including electrical sheet and strip (up 135%), standard rail (up 77%), and tool steel (up 25%).
• Year-to-Date Growth: For the first two months of 2025, total steel imports were up by 3.8% and finished steel imports were up by 5.8% compared to the same period in 2024.
• Largest Import Suppliers: The largest steel import permit applications in February 2025 were from Canada (455,000 net tons), Brazil (412,000 net tons), and Mexico (303,000 net tons).
• Increased Market Share for Finished Steel: The estimated market share for finished steel imports was 21% in February, with 24% year-to-date.
• Product-Specific Increases: Tin plate (up 101%) and line pipe (up 60%) saw significant year-to-date increases in imports.
