Steel Imports Down Nearly 40% YTD; February Up Just Slightly Over January

Based on preliminary Census Bureau data, the US imported a total of 1,663,000 net tons (nt) of steel in February 2026, according to the American Iron and Steel Institute (AISI), including 1,171,000 nt of finished steel (up 0.8% and down 6.2%, respectively, versus January 2026). Total and finished steel imports, however, are down 37.6% and 38.5%, respectively, year-to-date versus 2025.

Over the 12-month period March 2025 to February 2026, total and finished steel imports are down 20.3% and 24.7%, respectively, versus the prior 12-month period. Finished steel import market share was an estimated 15% in February and is pegged at 15% over the first two months of 2026.

On a year-to-date basis, every steel import product is down compared to the first two months of 2025. This, even though a few steel products had import increases in February over January: line pipe (up 51%), hot-rolled bar (up 30%), blooms, billets and slabs (up 23%) and oil country goods (up 21%).

Market participants have told WSD in recent weeks that South Korea has been especially active shipping product to the US, and the data support that. In February, the largest suppliers were South Korea (305,000 nt, up 7% vs. January), Brazil (247,000 nt, up 39%), Canada (225,000 nt, up 3%), Mexico (175,000 nt, down 25%) and Japan (141,000 nt, up 236%). Over the 12-month period March 2025 to February 2026, the largest suppliers were Canada (3,838,000 nt, down 41% compared to the previous 12-months), Brazil (3,518,000 nt, down 23%), South Korea (2,732,000 nt, down 7%), Mexico (2,483,000 nt, down 30%) and Germany (1,047,000 nt, down 6%).