Leading steel importers globally by country 2021

In 2021, the United States was the leading steel importer at 29.7 million metric tons. China ranked second with 27.8 million metric tons, having held first place the year before in 2020. The European Union's leader, Germany, ended up in third place in 2021, with 23.3 million metric tons of steel imports.

American Steel Tariffs

Even though the United States is the primary steel importer in the world, the country had 25 percent tariffs for importing such goods. In 2018, the Trump government imposed tariffs on steel and aluminum imports to reduce the trade deficit of the U.S. The steel tariffs were widely criticized since they increased domestic steel prices and impacted several industries that use steel, including the construction and automotive sectors. In 2021, the Biden government terminated the tariffs imposed on the European Union, Canada, and Mexico and started negotiations with China.

World Steel Recycling

Both steel and the residues utilized in its production process are highly recyclable. In detail, three-quarters of the energy required for primary steel manufacturing can be saved through recycling activities. To decarbonize the industry for net-zero targets, utilizing recyclable materials is vital. In 2021, seven significant markets alone used about 503.4 million metric tons of steel scrap for steelmaking. That year, Turkey was the world's largest steel scrap importer, with approximately 25 million metric tons.