April 2025: U.S. Steel Imports See a Monthly Collapse

The U.S. imported 2,073,000 net tons (1,880,000 metric tons) of steel in April 2025, down from 2,501,000 net tons in March, a 17.1% drop. Within this total, finished steel accounted for 1,607,000 net tons (1,456,000 metric tons), a decline of 11.8% from March's 1,822,000 net tons. This sharp contraction reflects weaker industrial demand, inventory overstock, and delays in infrastructure rollout. The fall also coincides with rising shipping costs and reduced global output from key trading partners, signaling complex supply-demand dynamics.

January–April 2025 YTD Comparison: Demand Cools Down

In the first four months of 2025, total steel imports reached 8,650,000 net tons (7,847,000 metric tons), compared to 9,050,000 net tons (8,211,000 metric tons) in the same period last year, a 4.4% year-to-date decline. Finished steel imports fell by 5.1%, from 7,165,000 net tons in Jan–Apr 2024 to 6,800,000 net tons in 2025. This drop suggests a growing preference for local sourcing and leaner inventory strategies among automakers, infrastructure firms, and builders, especially in the Midwest and Gulf states.

Product Category Surprises: Tin Plate & OCTG Surge

Despite the overall downturn, specific product categories surged in April:

• Tin Plate: up 43% vs. March, driven by high demand in the food packaging sector.

• Oil Country Tubular Goods: up 26%, reflecting increased U.S. oil & gas activity, especially in Texas & North Dakota.

• Wire Rods: up 14%, aligned with growth in fencing and rebar-related construction.

• Sheets & Strips (Hot Dipped Galvanized): held steady due to sustained demand in auto manufacturing.

These categories point to selective resilience in essential goods, oil production, and defense-related construction, even amid broader steel market weakness.

12-Month Trend (May 2024–April 2025): Finished Steel Rises Slightly

Over the past 12 months, total steel imports fell by 0.7% to 29,550,000 net tons, but finished steel rose by 1.1% to 22,740,000 net tons. Top year-on-year growth by product:

• Tin Plate: up +73%

• Sheets & Strip All Other Metallic Coated: up +14%

• Line Pipe: up +14%

• Wire Rods: up +11%

• Heavy Structural Shapes: up +11%

This increase in finished products suggests a move toward value-added, pre-processed imports, particularly for industries like EV manufacturing, industrial appliances, and modular housing.

Top Exporting Countries (April 2025 vs. March):

In April 2025, the top exporters of steel to the U.S. experienced significant shifts compared to March. Canada shipped 433,000 net tons (393,000 metric tons), down 13%, while Brazil recorded a steeper 30% fall to 299,000 NT (271,000 MT). South Korea followed with a 27% decline at 185,000 NT (168,000 MT), and Mexico saw the sharpest drop of 60%, falling to 156,000 NT (142,000 MT) due to production cuts in Northern mills and disrupted trade routes. In contrast, Germany increased its exports by 5%, reaching 120,000 NT (109,000 MT), driven by demand for specialized alloys in the automotive and aerospace industries.

The dramatic drop from Mexico is linked to reduced production at several Northern Mexican mills and trade route disruptions. Germany’s slight rise is attributed to high-performance alloys used in automotive and aerospace sectors.

Top Exporting Countries (12-month Trend):

Over the 12-month period ending April 2025, Canada remained the largest steel exporter to the U.S. with 6,266,000 net tons (5,687,000 metric tons), although shipments declined by 9% compared to the previous year. Brazil saw a 5% increase, exporting 4,506,000 NT (4,092,000 MT), while Mexico experienced a significant 15% drop to 3,379,000 NT (3,067,000 MT). South Korea's exports slightly decreased by 1%, totaling 2,499,000 NT (2,268,000 MT), whereas Vietnam posted the most remarkable growth with a 57% surge, reaching 1,201,000 NT (1,089,000 MT), reflecting its expanding role in the U.S. steel import market.

Vietnam’s export boom reflects lower cost production, trade agreement benefits under CPTPP, and growing supply chain integration with U.S. importers.

Market Share of Imported Steel: Domestic Mills Strengthen

Finished steel imports accounted for 20% of the total U.S. market share in April 2025. The YTD average stands at 22%, down from nearly 25% in early 2024. This shows a strengthening position for domestic producers, especially electric arc furnace (EAF) mills like Nucor, Steel Dynamics, and Cleveland-Cliffs. Domestic mills have responded to global turbulence with higher utilization rates, eco-friendly processes, and localization strategies.

Strategic Takeaways: Industry Realigns Amid Global Pressures

The decline in imports may signal a shift toward steel supply chain regionalization, with more buyers avoiding geopolitical uncertainty (e.g., Ukraine war, Red Sea blockades, and China trade issues). U.S. federal investments in green steel, hydrogen production, and Buy American mandates are reshaping long-term procurement. The outlook for Q3 and Q4 suggests moderate import recovery, but analysts forecast more demand-side correction and selective importation of finished and specialty steels.

Key Takeaways:

• U.S. April 2025 steel imports dropped 17.1% from March; finished steel fell 11.8%.

• Tin plate, OCTG, and wire rods showed strong gains, bucking the trend.

• Canada, Brazil, South Korea, and Mexico posted major declines in steel exports to the U.S.

• Vietnam’s steel exports to the U.S. rose 57% year-on-year.

• Finished steel import share in the U.S. dropped to 20% in April.

• Domestic producers gained ground due to incentives, green tech, & policy protections.