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).