Despite November Dip, Steel Import Permit Applications Still High for YTD 2007
12/06/2007 - Steel import applications totaled 2,287,000 net tons for the month of November 2007, while year-to-date 2007 finished steel imports remain 8% higher than the same period in 2005.
Steel import applications totaled 2,287,000 net tons for the month of November 2007, according to the latest report from the American Iron and Steel Institute (AISI).
The report, which is based on the Commerce Department’s most recent Steel Import Monitoring and Analysis (SIMA) data, shows that the November 2007 total reflects:
· A 14% decrease from the 2,665,000 permit tons recorded in October 2007
· A 15% decrease from the October preliminary imports total of 2,700,000 net tons.
· A 14% decrease compared to the 2005* monthly average.
Import permit tonnage for finished steel in November 2007 was 1,914,000 net tons, equal to the preliminary imports of 1,913,000 net tons in October. For the year-to-date in 2007 (an 11-month total, including November SIMA data) finished steel imports remain 8% higher than the same period in 2005*.
For November 2007, the largest volumes of steel import permit applications for countries outside of North America were from China (316,000 net tons), Korea (152,000 net tons), and Japan (102,000 net tons).
Finished steel import permit applications for Chinese steel (316,000 net tons) were up 4% in November compared to the preliminary imports total for October. Although it is still below the 2006 record tonnage amounts that occurred in the second half of last year, this month’s tonnage for China was 65% higher than the 2005 monthly average of 192,000 net tons for China.
“Notwithstanding the monthly decline, the yearly totals remain at elevated levels, and concerns about China and trade-distorting practices are not going away, especially in certain individual product categories from certain countries,” stated AISI President and CEO Andrew G. Sharkey III.
*2006 data are not used for comparison, because 2006 was an all-time-record year for imports.
AISI serves as the voice of the North American steel industry in the public policy arena and advances the case for steel in the marketplace as the preferred material of choice. AISI also plays a lead role in the development and application of new steels and steelmaking technology. AISI is comprised of 32 member companies, including integrated and electric furnace steelmakers, and 125 associate and affiliate members who are suppliers to or customers of the steel industry.
