Steel Import Permit applications up 9%

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 July totaled 2,916,000 net tons (NT).

This was a 9% increase from both the 2,671,000 permit tons recorded in June 2008, and the June preliminary imports total of 2,675,000 NT.

Import permit tonnage for finished steel in July was 2,206,000 NT, an increase of 7% from the preliminary imports total of 2,068,000 NT in June.

For the first seven months of 2008 (including July SIMA and June preliminary), total steel imports were 18,791,000 NT, down 11% from the 21,110,000 NT imported in the first seven months of last year.

For July 2008, the largest finished steel import permit applications for offshore countries were for China (367,000 NT), Korea (223,000 NT), Japan (164,000 NT), Germany (108,000 NT) and India (85,000 NT).

Finished steel import permit applications for China increased 6% in July compared to June preliminary imports and were the highest monthly total since July of 2007. Products that increased in July vs. the June preliminary include: Reinforcing Bar (up 45%), Oil Country Goods (up 21%), Hot Rolled Bar (up 19%), Hot Dipped Galvanized Sheet & Strip (up 17%) and Line Pipe (up 13%).