High Level of Steel Import Permit Applications Persists Through June
07/06/2007 - Steel import permit applications reach 3,082,000 net tons in June 2007, according to the latest report from the American Iron and Steel Institute.
Steel import permit applications reached 3,082,000 net tons in June 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 June total was the second-highest monthly amount so far this year. June applications were down slightly from the 3,101,000 permit tons recorded in May 2007. They reflect a 4% decrease from the May preliminary imports total of 3,210,000 net tons, and are 15% higher than the 2005 monthly average. Import permit tonnage for finished steel in June 2007 was 2,450,000 net tons—12% percent below the preliminary imports of 2,773,000 net tons in May 2007 and 17% higher than the monthly average of 2,099,000 net tons in 2005.
For June 2007, the largest volumes of import permit applications for finished steel outside of North America were China (488,000 net tons), Korea (176,000 net tons), Brazil (119,000 net tons), Germany (119,000 net tons), and Turkey (117,000 net tons). For the first time since January, Chinese steel led all foreign suppliers of finished steel into the United States, running at an annualized pace close to 6 million net tons. Despite a 7% dip from preliminary May imports, June 2007 applications for Chinese finished steel were 154% higher than the 2005 monthly average of 192,000 net tons; these amounts are still below the 2006 record tonnage amounts that occurred in the second half of last year.
“America’s efficient and environmentally responsible steel producers note with particular concern the continued high level of imports from China,” said AISI President and CEO Andrew G. Sharkey III. “Whether the product is steel or manufactured products in general, this again points to the paramount need to ensure effective, enforceable, rules-based free 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.
