Imported Fabricated Metal Structures Surge 19% to $783M in the United States in June 2023

Imported Fabricated Metal Structures Surge 19% to $783M in the United States in June 2023

U.S. Fabricated Structural Metal Imports

In June 2023, the United States imported approximately 234K tons of fabricated structural metal, representing an 11% increase compared to the previous month. The overall trend in imports remained relatively flat, with significant growth seen in March 2023 at 27% month-on-month (m-o-m).

In terms of value, the imported fabricated structural metal reached $783M in June 2023, according to IndexBox estimates. The average monthly growth rate between June 2022 and June 2023 was +1.2%, although there were noticeable fluctuations in certain months. The highest growth rate was observed in March 2023, with a 27% m-o-m increase. Imports peaked in June 2023.

U.S. Fabricated Structural Metal Imports By Country (Million USD)

Imports by Country

The main suppliers of fabricated structural metal imports to the United States in June 2023 were Mexico (46K tons), China (32K tons), and Canada (27K tons), accounting for a combined 45% share. India, Turkey, South Korea, and Thailand followed closely, contributing to another 21% of total imports.

Among the main suppliers, Turkey experienced the most notable rate of growth in terms of purchases, with a compound annual growth rate (CAGR) of +2.3%, while the other leading countries showed more modest growth rates.

In terms of value, Mexico ($166M), Canada ($140M), and China ($73M) were the largest suppliers of fabricated structural metal to the United States, comprising 48% of total imports. India, South Korea, Turkey, and Thailand accounted for an additional 13%.

Turkey recorded the highest growth rate in import value, with a CAGR of +2.5%, while the other major suppliers saw more modest growth rates.

Import Prices by Country

In June 2023, the price of imported fabricated structural metal stood at $3,346 per ton (CIF, US), indicating a 7% increase compared to the previous month. From June 2022 to June 2023, the average monthly price growth rate was +1.4%. The highest rate of growth occurred in December 2022, with a 13% m-o-m increase. The import price peaked at $3,567 per ton, but remained at a lower level between January 2023 and June 2023.

Import prices varied significantly depending on the country of origin, with Denmark having the highest price at $6,372 per ton, and Thailand having one of the lowest prices at $1,646 per ton. South Korea experienced the most notable price growth rate at +2.5%, while the other major suppliers had more modest growth rates.

Source: IndexBox Market Intelligence Platform

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