import permits down in May
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 May totaled 2,579,000 net tons
(NT). This was a 6 percent decrease from the 2,746,000 permit
tons recorded in April and a 2 percent increase from the April
preliminary imports total of 2,535,000 NT.
Import permit tonnage for finished steel
in May was 1,768,000 NT, down 8 percent from the preliminary
imports total of 1,915,000 NT in April. The estimated finished
steel import market share in May was to 21 percent, the same
as the 2011 YTD market share.
In May, the largest finished steel import
permit applications for offshore countries were for Korea (222,000
NT, down 28 percent from April), Japan (145,000 NT, up 36 percent),
China (114,000 NT, up 19 percent), Turkey (80,000 NT, down 32
percent) and Germany (77,000 NT, up 6 percent).
Finished steel import permits for major products
that registered large increases in May vs. the April preliminary
include wire rods (up 26 percent) and oil country goods (up 14