Finished Steel Imports Up 11% in April
05/03/2012 - Total steel import permit applications reached 3,074,000 net tons for the month of April, a 5% decrease from the 3,248,000 permit tons recorded in March according to the latest report from AISI. Import tonnage for finished steel was up 11% over the same period.
Total steel import permit applications reached 3,074,000 net tons for the month of April, according to the most recent report from the American Iron and Steel Institute (AISI). The April total represents a 5% decrease from the 3,248,000 permit tons recorded in March and a 6% increase from the March preliminary imports total of 2,899,000 net tons.
The report, which is based on the Commerce Department’s most recent Steel Import Monitoring and Analysis (SIMA) data, shows that the April total included import tonnage of 2,394,000 net tons for finished steel, up 11% from the preliminary imports total of 2,163,000 net tons in March. The 2.4 million permit tons of finished steel imports in April was the highest monthly tonnage figure in over 3 ½ years (since October 2008).
April 2012 total steel import permit tons would annualize at 34,529,000 net tons, up 21% vs. the 28,515,000 net tons imported in 2011. April 2012 finished steel import permit tons would annualize at 26,534,000 net tons, up 22% vs. the 21,835,000 net tons imported in 2011. The estimated finished steel import market share in April rose to 25%, the highest level in the last 9 months.
In April, the largest finished steel import permit applications for offshore countries were for South Korea (335,000 net tons, up 23% from March), Japan (166,000 net tons, down 7%), China (164,000 net tons, up 57%), Russia (148,000 net tons, up 358%) and Turkey (121,000 net tons, down 26%). For the first 4 months of 2012, the largest offshore suppliers were South Korea (1,260,000 net tons, up 32% from the same period in 2011), Japan (653,000 net tons, up 35%) and Turkey (634,000 net tons, up 133%).
Finished steel import permits for products that registered large increases in April vs. the March preliminary include
Finished steel import permits for products that registered large increases in April vs. the March preliminary include
· Plates in coils (up 134%)
· Sheets and strip, all other metallic coated (up 48%)
· Hot rolled sheets (up 43%)
· Hot dip galvanized sheets and strip (up 37%)
· Hot rolled bars (up 26%).
Major products with significant year-to-date (YTD) increases vs. the same period in 2011 include
· Plates in coils (up 66%)
· Cut-length plates (up 63%)
· Reinforcing bar (up 54%)
Notable YTD import increases in products from offshore countries include plate in coils from Russia (111,000 tons, up 1,501%), reinforcing bar from Turkey (195,000 tons, up 135%) and cut-length plates from Korea (65,000 tons, up 538%).
“The significant increase in steel imports and steel import market share in 2012 to levels that are now matching the pre-recession levels is occurring at a time when domestic steel production and capacity utilization remain well below the pre-recession level,” stated AISI President and CEO Thomas J. Gibson, commenting on the April 2012 SIMA data. “This large increase in steel imports in 2012 is clearly outpacing the moderate gains we have seen in domestic steel demand this year. Given that rising imports and import market share contribute to lost U.S. jobs, we would strongly encourage our government leaders to elevate discussions regarding steel imports whenever possible in bilateral conversations with foreign leaders, especially when they involve issues of unfair trade.”
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. The Institute comprises 25 member companies, including integrated and electric furnace steelmakers, and 124 associate and affiliate members who are suppliers to or customers of the steel industry.
