Steel import permits decline seven percent in February

Based on the Commerce Department’s most recent Steel Import Monitoring and Analysis (SIMA) data, the American Iron and Steel Institute (AISI) reported that steel import permit applications for the month of February totaled 1,530,000 net tons (NT). This was a 7 percent decrease from the 1,644,000 permit tons recorded in January and a 6 percent decrease from the January preliminary imports total of 1,634,000 NT.

Import permit tonnage for finished steel in February was 1,194,000 NT, which was a decrease of 5 percent from the preliminary imports total of 1,257,000 NT in January.

In February, the largest finished steel import permit applications for offshore countries were for Japan (113,000 NT, up 45 percent from January), Korea (89,000 NT, down 41 percent), Germany (55,000 NT, up 47 percent), India (53,000 NT, up 184 percent) and Australia (48,000 NT, up 74 percent). Finished steel import market share in February is estimated at 18 percent.

Finished steel import permits for major product categories that registered significant increases in February vs. the January preliminary include reinforcing bar (up 108 percent), wire rod (up 39 percent), and cut-length plate (up 38 percent).