Applications for steel import permits down from 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 March totaled 2,413,000 net tons (NT).
This was a 2 percent decrease from the 2,454,000 permit tons recorded
in February 2008, and also a 2 percent decrease from the February preliminary
imports total of 2,458,000 NT. Import permit tonnage for finished steel
in March was 1,960,000 NT, an increase of 3 percent from the preliminary
imports of 1,905,000 NT in February.
For the first three months of 2008 (including March SIMA and February
preliminary), total steel imports were 7,537,000 NT, down 13 percent
from the 8,655,000 NT imported in the first quarter (1Q) of last year.
For March 2008, the largest finished steel import permit applications
for offshore countries were for China (233,000 NT), Korea (189,000 NT),
Japan (133,000 NT), India (117,000 NT) and Germany (80,000 NT). Finished
steel import permit applications for China declined 1 percent in March
compared to February preliminary imports.
Product categories that increased in March vs. February preliminary include:
Cut Length Plates (up 110 percent), Standard Pipe (up 60 percent), Oil
Country Goods (up 43 percent) and Hot Dipped Galvanized Sheet & Strip
(up 35 percent).
Products that showed an increase in 1Q 2008 vs. 1Q 2007 include: Oil
Country Goods (up 44 percent), Standard Pipe (up 13 percent), and Structural
Shapes Heavy (up 6 percent).