import permits down 15 percent
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 August totaled 2,082,000 net tons
(NT). This was a 15 percent decrease from the 2,436,000 permit
tons recorded in July and a 14 percent decrease from the July
preliminary imports total of 2,415,000 NT.
Import permit tonnage for finished steel
in August was 1,623,000 NT, down 10 percent from the preliminary
imports total of 1,797,000 NT in July. August total and finished
steel import permit tons would annualize at 24,305,000 NT and
18,912,000 NT, up 49 percent and 33 percent, respectively, from
the 16,215,000 NT and 14,179,000 NT imported in 2009.
In August, the largest finished steel import
permit applications for offshore countries were for Korea (189,000
NT, down 4 percent from July), Japan (148,000 NT, up 19 percent),
Turkey (103,000 NT, up 110 percent), China (101,000 NT, up 8
percent) and Taiwan (73,000 NT, up 172 percent). This was the
first month import permit tonnage for China has exceeded 100,000
NT since May 2009. Finished steel import market share in August
and year-to-date are 20 percent and 21 percent, respectively.
Finished steel import permits for major product
categories that registered significant increases in August vs.
the July preliminary include sheet and strip all other metallic
coatings (up 76 percent), reinforcing bar (up 59 percent) and
hot rolled bars (up 15 percent).