Steel Import Market Share Still at 22% in October Despite 3% Dip in Import Permits
11/03/2011 - Steel import permit applications totaled 2,192,000 net tons for the month of October, a 3% decrease from the 2,269,000 permit tons recorded in September according to the latest report from AISI.
Steel import permit applications totaled 2,192,000 net tons for the month of October according to the latest report from the American Iron and Steel Institute (AISI). The October total represents a 3% decrease from the 2,269,000 permit tons recorded in September and a 2% decrease from the September preliminary imports total of 2,238,000 net tons.
The report, which is based on the Commerce Department’s most recent Steel Import Monitoring and Analysis (SIMA) data, shows that the October total included import permit tonnage of 1,819,000 net tons for finished steel, up 9% from the preliminary imports total of 1,662,000 net tons in September.
Year-to date (YTD) 2011 total steel import permit tons would annualize at 28,989,000 net tons, up 21% vs. the 23,929,000 net tons imported in 2010. YTD 2011 finished steel import permit tons would annualize at 22,203,000 net tons, up 18% vs. the 18,857,000 net tons imported in 2010. The estimated finished steel import market share was 22% for October and 22% for the year to date.
In October, the largest finished steel import permit applications for offshore countries were for Korea (220,000 net tons, up 4% from September), Japan (137,000 net tons, up 15%), China (111,000 net tons, up 3%), Australia (96,000 net tons, up 94%) and Germany (71,000 net tons`, up 12%).
Finished steel import permits for major products that registered increases in October vs. the September preliminary include
· Hot rolled sheets (up 50%)
· Hot rolled bars (up 30%)
· Sheets and strip all other metallic coated (up 23%)
· Mechanical tubing (up 19%)
· Wire rods (up 15%)
“In spite of a modest 3% decline in steel imports in October, import market share -- at 22 percent -- remains stubbornly high,” noted AISI President and CEO Thomas J. Gibson, commenting on the October 2011 SIMA data. “Our manufacturing sector is still slowly recovering from the economic crisis and we must remain focused to ensure that this recovery is not undercut by unfair trade policies.”
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 comprises 25 member companies, including integrated and electric furnace steelmakers, and 140 associate and affiliate members who are suppliers to or customers of the steel industry.
