The United States has long been a key player in the global steel market, exporting significant volumes of steel each year to support industries worldwide. Despite being a net importer of steel, the US ranks among the top 10 steel exporters globally, with strong trade links in North America, Asia, and Europe.
According to the US export data, the country exported steel worth $19.59 billion in 2024, representing about 8.9 million metric tons. However, this marked a 4% decline from 2023, as global competition and policy changes affected trade flows. In the first quarter of 2025 alone, steel exports reached $4.25 billion, highlighting steady demand but also pointing to challenges ahead.
Key Highlights of US Steel Exports 2024–25
Export value (2024): $19.59 billion
Export volume (2024): ~8.9 million metric tons
Global rank: 7th-largest steel exporter
Top destinations: Mexico, Canada, Turkey, India, Bangladesh
Share of exports to North America (Mexico + Canada): Over 50%
US steel production (2024): 88 million net tons, with exports making up ~10%
Top 10 Destinations for US Steel Exports
US steel exports are concentrated in a few key markets, with Mexico and Canada accounting for the majority. Here’s the breakdown of the top 10 export destinations for 2024–25:
Mexico – $7.05 billion (36%)
Mexico is the largest buyer of US steel, thanks to its strong automotive and construction sectors. Shared borders, USMCA trade agreements, and integrated supply chains make Mexico a natural export partner.Canada – $4.77 billion (24.4%)
Canada remains the second-largest importer of US steel. Its manufacturing and infrastructure sectors rely heavily on US imports, further strengthened by cross-border trade policies.Türkiye – $1.76 billion (9%)
Turkey is an emerging buyer, sourcing steel for its construction and industrial base. Despite regional challenges, its import demand continues to grow.India – $862.26 million (4.4%)
India’s rapid infrastructure development has fueled rising steel demand. Although India is also a major steel producer, specialized US steel grades support its construction and engineering projects.Bangladesh – $658.29 million (3.4%)
Bangladesh’s booming urban development and megaprojects have turned it into a significant growth market for US steel exports.Taiwan – $467.99 million (2.4%)
Taiwan’s strong electronics and machinery industries keep its steel demand high, making the US a trusted supplier.Thailand – $438.62 million (2.2%)
Thailand continues to expand its industrial capacity, relying on imported steel for construction, automobiles, and manufacturing.Pakistan – $405.68 million (2.1%)
Pakistan imports US steel to support infrastructure development and energy projects, reflecting steady growth in demand.China – $318.53 million (1.6%)
Despite being the world’s largest steel producer, China still imports specific steel products from the US, particularly specialty grades.Italy – $259.32 million (1.3%)
Italy’s manufacturing sector drives its steel demand, with imports supporting automotive, machinery, and industrial use.
US Steel Export Trends Over the Last 10 Years
| Year | Export Value ($ Billion) |
|---|---|
| 2014 | 18.56 |
| 2015 | 14.54 |
| 2016 | 12.87 |
| 2017 | 16.10 |
| 2018 | 16.48 |
| 2019 | 14.34 |
| 2020 | 12.29 |
| 2021 | 18.67 |
| 2022 | 20.89 |
| 2023 | 20.46 |
| 2024 | 19.59 |
| 2025 Q1 | 4.25 |
Exports peaked in 2022 at $20.89 billion, before stabilizing around $19–20 billion. This reflects strong demand but also the impact of global supply disruptions, tariffs, and increasing competition from Asian producers.
Policy & Industry Context
Steel exports from the US are shaped not just by demand but also by trade policy and production limits:
Tariffs & Trade Policy: Section 232 tariffs, reintroduced in 2025, range from 25–50%, impacting pricing and competitiveness. Canada, the EU, and other partners have hinted at retaliation, adding pressure on US exporters.
Production Constraints: US steel mills operated at 74–75% capacity in 2024, limiting surplus available for export despite steady demand abroad.
Global Competition: Cheap steel from China and Vietnam continues to flood markets, making it harder for US steel to expand beyond North America.
Outlook for US Steel Exports in 2025
The outlook for the rest of 2025 is mixed:
North America remains dominant: Exports to Mexico and Canada will continue to make up more than half of US shipments, supported by USMCA.
Secondary markets growing: Turkey, India, and Bangladesh are emerging buyers, though still smaller compared to North America.
Tariff volatility: With US tariffs now at 50% in mid-2025, pricing competitiveness could weaken unless exemptions or trade deals are negotiated.
Specialty steel opportunity: High-value segments such as automotive steel, coated sheets, and tubes may offset weaker bulk exports.
Key Takeaways
The US exported 8.9 million metric tons of steel worth $19.6 billion in 2024.
Mexico and Canada account for over 60% of exports.
Exports are stable but remain modest compared to domestic consumption and imports.
Tariff hikes and global competition will influence future export flows.
Specialty steel exports are expected to grow even if bulk exports slow down.
Conclusion
In 2024–25, the United States maintained its position as the 7th-largest steel exporter globally, with exports valued at nearly $20 billion. While domestic consumption and imports remain far higher than exports, US steel still plays a vital role in international supply chains—particularly within North America.
As policy shifts, tariffs, and global competition continue to shape the market, the future of US steel exports will depend on demand in Mexico, Canada, and emerging markets like India and Turkey. For businesses and analysts, monitoring quarterly trade data and tariff updates will be critical in anticipating opportunities and challenges in this highly competitive sector.
? For live and customized US steel export data by country, HS code, and company, visit US Import Dataor contact us at info@tradeimex.in
