import permits down
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 1,815,000 net
tons (NT). This was a 13 percent decrease from the 2,081,000
permit tons recorded in January and an 11 percent decrease from
the January preliminary imports total of 2,048,000 NT.
Import permit tonnage for finished steel in February was 1,368,000
NT, down 16 percent from the preliminary imports total of 1,632,000
NT in January but up 12 percent vs. February 2010 final imports.
February 2011 total and finished steel import permit tons would
annualize at 23,181,000 NT and 17,998,000 NT, down 3 percent
and 5 percent, respectively, from the 23,929,000 NT and 18,857,000
NT imported in 2010.
In February, the largest finished steel import permit applications
for offshore countries were for Korea (161,000 NT, down 25 percent
from January), Japan (128,000 NT, up 2 percent), Germany (70,000
NT, down 11 percent) and Turkey (64,000 NT, up 168 percent).
The estimated finished steel import market share in February
was 18 percent.
Finished steel import permits for major products that registered
large increases in February vs. the January preliminary include
reinforcing bar (up 54 percent) and wire drawn (up 10 percent).