Finished Steel Imports up 13% in March
04/05/2012 - The U.S. imported a total of 3,144,000 net tons of steel in March, up 22% from February final data, according to the latest report from AISI. Finished steel imports were up 21% over the same period.
Total steel import permit applications reached 3,144,000 net tons for the month of March 2012, according to the most recent report from the American Iron and Steel Institute (AISI). The March total represented a 22% increase from the 2,580,000 permit tons recorded in February and a 17% increase from the February preliminary imports total of 2,689,000 net tons.
The report, which is based on the Commerce Department’s most recent Steel Import Monitoring and Analysis (SIMA) data, shows that the March total included import permit tonnage of 2,275,000 net tons for finished steel, up 11% from the preliminary imports total of 2,051,000 net tons in February. On a quarterly basis, finished steel imports in the first quarter of 2012 were 27% higher than in the fourth quarter of 2011.
March 2012 total steel import permit tons would annualize at 34,591,000 net tons, up 21% vs. the 28,515,000 net tons imported in 2011. March 2012 finished steel import permit tons would annualize at 26,120,000 NT, up 20% vs. the 21,835,000 net tons imported in 2011. The estimated finished steel import market share in March was 23%.
In March, the largest finished steel import permit applications for offshore countries were for Korea (282,000 net tons, down 6% from February), Turkey (263,000 net tons, up 39%), Japan (190,000 net tons, up 15%), China (114,000 net tons, up 24%) and Germany (106,000 net tons, up 32%). Comparing the first quarter of 2012 to the comparable period last year, particularly notable increases have been reported for the 3 largest offshore suppliers. Based on 1st quarter 2012, Korea would annualize at 2.8 million tons, up 31%, vs. 2011; Turkey, 2.4 million tons annualized, up 222% and Japan, 2.0 million tons annualized, up 35%.
Finished steel import permits for products that registered large increases in March vs. the February preliminary include reinforcing bar (up 76%), line pipe (up 63%), standard pipe (up 29%) and cut-length plate (up 9%). For the year to date, major products with increases vs. the same period in 2011 include reinforcing bar (up 114%), line pipe (up 67%), plates in coils (up 54%) and cut-length plate (up 52%).
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 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.
