Steel Import Permit Applications Decline 22% in August
09/13/2007 - Steel import permit applications totaled 2,490,000 net tons for the month of August, a 22% decrease from the 3,204,000 permit tons recorded in the previous month.
Steel import permit applications totaled 2,490,000 net tons for the month of August 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, reflects the August total was a 22% decrease from the 3,204,000 permit tons recorded in July 2007, a 23% decrease from the July preliminary imports total of 3,222,000 net tons, and 7% lower than the 2005 monthly average (2006 was an all-time record year for imports).
Import permit tonnage for finished steel was 1,954,000 net tons in August, 20% below the preliminary imports of 2,452,000 net tons in July and 7% lower than the monthly average of 2,099,000 net tons in 2005.
For August 2007, the largest volumes of steel import permit applications for countries outside of North America were China (343,000 net tons), Japan (176,000 net tons), and Korea (148,000 net tons).
Finished steel import permit applications for Chinese steel were down 29% in August compared to the preliminary imports total for July. This tonnage for China, while still below the 2006 record tonnage amounts that occurred in the second half of last year, was 79% higher than the 2005 monthly average of 192,000 NT for China.
In analyzing the SIMA data for the month of August, AISI President and CEO Andrew G. Sharkey III, said that, “While the SIMA data tend to vary month-by-month, the overall trend continues to be of concern, with imports from China year-to-date remaining at a high level.”
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.
