US HRC imports decreased in 2023

According to data from SteelRadar sourced from the US Department of Commerce, in 2023, the United States experienced a notable decrease in HRC (Hot Rolled Coil) imports, totalling 1.886.719 tons. This marked a 15.6% decline from 2022 when imports were at 2.239.106 tons.

In January 2023, there was a significant year-on-year decrease, with imports amounting to 136.973 tons, reflecting a notable 49.5% decline compared to the same period in the previous year. However, December 2023 saw a year-on-year rise of 38%, with imports reaching 182.743 tons.

Despite Canada holding the largest share of US HRC imports in 2023 with around 1033.870 tons, it experienced an 8% decrease compared to the previous year. South Korea ranked second with 264.402 tons, followed by Japan with 183.204 tons. The most significant decline was observed in imports from Mexico, which decreased to 127.309 tons, down 53% from the previous year.

It is important to note that while Canada, Mexico, and Australia are now exempt from the Section 232 tariffs, the U.S. maintains quota deals with Argentina, Brazil, South Korea, the EU, Japan, and the United Kingdom.