Steel Import Permit Applications Fall in November
12/04/2008 - Steel import permit applications totaled 2,277,000 net tons for the month of November, a 23% decrease from the 2,967,000 permit tons recorded in October 2008, according to the latest report from the AISI.
Steel import permit applications totaled 2,277,000 net tons for the month of November 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, showed that the November total was a 23% decrease from the 2,967,000 permit tons recorded in October 2008, as well as from the October preliminary imports total of 2,964,000 net tons.
The report also shows that the November total included 2,123,000 net tons of finished steel, a decrease of 9% from the preliminary imports total of 2,344,000 net tons in October.
Total year-to-date steel imports for the first 11 months of 2008 (including November SIMA and October preliminary) were 29,576,000 net tons, down 5% from the 31,240,000 net tons imported in the first 11 months of last year. Total steel imports for 2008 would annualize at 32.3 million net tons, or 3% below the 12-month total for 2007.
For November 2008, the largest finished steel import permit applications for offshore countries were for China (555,000 net tons), South Korea (236,000 net tons), Turkey, (154,000 net tons) and Japan (123,000 net tons). Chinese permit tons were the 3rd-highest monthly amount for 2008, primarily because of the highest-of-2008 monthly amounts of import permits for Pipe and Tubular Products from China. Permit tonnage for Chinese steel decreased 22% in November vs. October preliminary imports, and represented 26% of total finished SIMA permit tons. Chinese Imports for the last three months (September & October imports and November licenses) would annualize at 7.4 million tons, which would be two million tons higher than the historic high for Chinese annual imports, which was set in 2006.
Major import products that registered large increases in November vs. the October preliminary include Cut-Length Plates (+41%), Plates in Coils (+27%) and Oil Country Goods (+13%). Import product categories with significant year-to-date increases vs. YTD 2007 include Oil Country Goods (+89%) and Hot Rolled Bars (+10%).
“With the sharp decline in global steel demand this quarter, it is of great concern that China is sending record levels of finished steel imports into the U.S.,” said Thomas J. Gibson, AISI President and CEO. “The startling jump in pipe and tube imports, at 450,000 tons, is a red flag for our government to strictly enforce U.S. laws against dumped and subsidized imports.”
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 27 member companies, including integrated and electric furnace steelmakers, and 138 associate and affiliate members who are suppliers to or customers of the steel industry.
