June Steel Import Permits Decline 15% from May
07/08/2010 - Steel import permit applications reached a total of 1,955,000 net tons for the month of June, a 15% decrease from the 2,297,000 permit tons recorded in May according to the latest report from AISI.
Steel import permit applications reached a total of 1,955,000 net tons for the month of June, according to the latest report from the American Iron and Steel Institute (AISI). The June total represents a 15% decrease from the 2,297,000 permit tons recorded in May and a 12% decrease from the May preliminary imports total of 2,226,000 net tons.
The report, which is based on the Commerce Department’s most recent Steel Import Monitoring and Analysis (SIMA) data, shows that the June total included 1,524,000 net tons of import permit tonnage for finished steel. This was a 12% decrease from the preliminary imports total of 1,722,000 net tons in May.
June total steel import permit tons would annualize at 23,116,000 net tons, up 43% from the 16,215,000 net tons imported in 2009. June finished steel import permit tons would annualize at 18,165,000 net tons, up 28% from the 14,179,000 net tons imported in 2009.
Finished steel import permits for major product categories that registered significant increases in June vs. the May preliminary include
· Reinforcing bar, up 117%
· Sheets and (strip all other metallic coatings), up 37%
· Standard pipe, up 14%
· Cut-length plates, up 11%
In June, the largest finished steel import permit applications for offshore countries were for Korea (154,000 net tons, down 14% from May), China (79,000 net tons, up 32%), Taiwan (76,000 net tons, up 243%), Japan (70,000 net tons, down 42%) and Germany (64,000 net tons, down 34%). Finished steel import market share is estimated at 19% for June and at 20% for the year-to-date.
“Our concern regarding steel imports is the fact that with domestic capacity utilization remaining below 75% through the entire first half of 2010 and uncertain market conditions for the remainder of 2010, imports have claimed a 20% market share,” said AISI President and CEO Thomas J. Gibson, commenting on the June SIMA data. “It is critical that we remain vigilant against any subsidized or dumped imports that are entering the U.S. market.”
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 24 member companies, including integrated and electric furnace steelmakers, and 138 associate and affiliate members who are suppliers to or customers of the steel industry.
