Steel import permits down

Based on the Commerce Department’s most recent Steel Import Monitoring and Analysis data, the American Iron and Steel Institute reported that steel import permit applications for the month of August totaled 2,446,000 net tons (NT). This was a 3 percent decrease from the 2,520,000 permit tons recorded in July and a 5 percent decrease from the July preliminary imports total of 2,584,000 NT.

Import permit tonnage for finished steel in August was 1,841,000 NT, down 11 percent from the preliminary imports total of 2,060,000 NT in July. The estimated finished steel import market share in August was 21 percent.

In August, the largest finished steel import permit applications for offshore countries were for Korea (212,000 NT, down 29 percent from July), China (122,000 NT, down 21 percent), Japan (97,000 NT, down 30 percent), Germany (72,000 NT, down 16 percent) and India (68,000 NT, up 30 percent).

Finished steel import permits for major products that registered increases in August versus the July preliminary include reinforcing bars (up 79 percent), cold finished bars (up 21 percent), cut length plates (up 17 percent) and oil country goods (up 10 percent).