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Pricing

2022
Exports $92.7MWorld Rnk 15 / 91
Flag Rnk 754 / 1217
2022
Destination $4.54M Canada
2021 - 2022
FASTEST GROWING MARKET $4.54MMexico
2022
PRODUCT COMPLEXITY IN Steel Ingots0.23Rnk 480 / 1025
2022
Imports $1.68BWorld Rnk 1 / 163
Flag Rnk 285 / 1216
2022
Origin $223M Brazil
2021 - 2022
FASTEST GROWING ORIGIN $223MRomania
2022
ECONOMIC COMPLEXITY of United States1.47Rnk 10 / 133

About

Exports In 2022, United States exported $92.7M in Steel Ingots, making it the 15th largest exporter of Steel Ingots in the world. At the same year, Steel Ingots was the 754th most exported product in United States. The main destination of Steel Ingots exports from United States are: Canada ($30.8M), Mexico ($14.4M), Austria ($11.2M), China ($8.5M), and Poland ($4.76M).

The fastest growing export markets for Steel Ingots of United States between 2021 and 2022 were Mexico ($4.54M), Canada ($4.43M), and Austria ($4.38M).

Imports In 2022, United States imported $1.68B in Steel Ingots, becoming the 1st largest importer of Steel Ingots in the world. At the same year, Steel Ingots was the 285th most imported product in United States. United States imports Steel Ingots primarily from: Brazil ($768M), Romania ($336M), Mexico ($301M), Italy ($118M), and Canada ($84.6M).

The fastest growing import markets in Steel Ingots for United States between 2021 and 2022 were Romania ($223M), Italy ($96.6M), and Brazil ($40.8M).

COMPANIES In 2023, leading companies such as Amazon (5), Home Depot (3), and Rolls-Royce (3) were at the forefront of shipping Steel Ingots to the United States.

Latest Trends

August 2024

About

Overview In August 2024 United States' Steel Ingots exports accounted up to $10M and imports accounted up to $111M, resulting in a negative trade balance of $101M. Between August 2023 and August 2024 the exports of United States'   Steel Ingots have increased by $2.23M (28.6%) from $7.81M to $10M, while imports decreased by $-9.2M (-7.65%) from $120M to $111M.

Destinations In August 2024, Steel Ingots were exported mostly to Canada ($3.26M), Poland ($1.83M), Mexico ($1.69M), China ($727k), and Austria ($632k), and were imported mostly from Romania ($52.8M), Brazil ($50.7M), Canada ($6.64M), United Kingdom ($424k), and Italy ($314k).

Growth In August 2024, the increase in Steel Ingots's year-by-year exports was explained primarily by an increase in exports to Poland ($1.03M or 618%), China ($867k or 138%), and United Kingdom ($580k or 374%). In August 2024, the decrease in Steel Ingots's year-by-year imports was explained primarily by a decrease in imports from Romania ($-22.7M or -70.1%), India ($-4.46M or -98.6%), and United Kingdom ($-80.5k or -14.1%).

Subnational Monthly Trade

Time Scale
Flow
Color
EXPORT GROWTH (August 2023 - August 2024)$2.23M(28.6%)
IMPORT GROWTH (August 2023 - August 2024)$-9.2M(-7.65%)
MAIN EXPORTER (August 2024)Pennsylvania$8.6M
MAIN DESTINATION (August 2024)Canada$3.26M

This section shows Steel Ingots's exports and imports data at subnational level for United States. Click any date in the line plot, any subnational region in the geomap, or any destination or origin country to explore the exports or imports behavior of Steel Ingots over time.

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Historical Data

Trade Balance

Color
EXPORTS (2022)$92.7M
IMPORTS (2022)$1.68B
NET TRADE (2022)-$1.59B

In 2022, United States exported $92.7M in Steel Ingots. The main destinations of United States exports on Steel Ingots were Canada ($30.8M), Mexico ($14.4M), Austria ($11.2M), China ($8.5M), and Poland ($4.76M).

In 2022, United States imported $1.68B in Steel Ingots, mainly from Brazil ($768M), Romania ($336M), Mexico ($301M), Italy ($118M), and Canada ($84.6M).

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Export Destinations (2022)

Import Origins (2022)

Market Growth

Flow
THE FASTEST GROWING Steel Ingots EXPORT MARKETS FOR United States WERE (2021 - 2022):
Mexico$4.54M (45.8%)
Canada$4.43M (16.8%)
Austria$4.38M (64.3%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Steel Ingots BY United States WERE (2021 - 2022):
China-$9.06M (-51.6%)
Honduras-$4.71M (-64.3%)
Vietnam-$632k (-97.3%)
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Change in Exports by Market (2021 - 2022)

Market Concentration

View
Flow
Type
In 2022, United States's main exporting competitors in Steel Ingots were:
Brazil $811M
Germany $381M
Italy $359M
In 2022, United States's main importing competitors in Steel Ingots were:
Germany $387M
Italy $358M

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Trade Value of Steel Ingots by Exporters

Potential Exports

Potential Exports

Flow
View
TOP EXPORT POTENTIALChina+ $3.31M
TOP IMPORT POTENTIALCanada+ $30.8M

Steel Ingots’s highest export potential is China. With an export gap of $3.31M.   Steel Ingots’s highest import potential is Canada with an import gap of $30.8M.

See methodology.

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