Posted on 16 Mar 2026
U.S. steel imports recorded a modest rebound in January, driven largely by a surge in shipments from South Korea, though total volumes remained sharply lower from a year earlier.
The United States imported around 1.5 million tonnes of steel in January, edging up by 65,841 tonnes or 4.6% on month, according to data released by the U.S. Census Bureau under the Department of Commerce (DoC). However, on a year-on-year basis, inbound shipments tumbled by 1.3 million tonnes, marking a steep decline of 46.3%.
The average import price stood at $1,024/tonne, down by $46/t from the prior month, according to Mysteel's calculation based on the DoC figures. The modest price softening appeared to encourage some purchasing activity, with importers seeking to secure supplies at relatively lower price points, Mysteel Global notes.
South Korea registered the largest on-month increase among major suppliers, with imports surging to 258,668 tonnes in January, up by 107,416 tonnes or 71% from December, the DoC data shows. The average price of Korean-origin steel stood at $909/t in the month, down by $31/t from the prior month, reflecting competitive pricing amid the Korean won's depreciation against the U.S. dollar.
In stark contrast, steel imports from China totaled just 25,756 tonnes in January – plummeting by 25,695 tonnes or by nearly 50% from December's total and down 53% from a year earlier, according to the DoC statistics.
The sharp decline, which reversed the previous month's unusual spike, extended a prolonged contraction in Chinese steel shipments across the Pacific, reflecting the cumulative impact of elevated tariffs and various anti-dumping measures imposed during the Trump administration.
The tariffs have rendered Chinese steel largely uncompetitive in the U.S. market, prompting American buyers to switch procurement to other suppliers, particularly South Korea and Mexico.
Notably, the average price of Chinese-origin steel surged to $1,541/t in January, up by $392/t from December, suggesting remaining shipments are increasingly concentrated in higher-value, specialized products facing fewer trade barriers.
This structural shift was also evident in imports of specialized products, with stainless steel – a key category of premium materials – totaling 73,577 tonnes in January, up 13% on month, according to the DoC data, underscoring the resilience of premium material demand despite broader headwinds.
Source:Mysteel Global
