Steel Import Permit Applications Hold Steady through June
07/03/2008 - Steel import permit applications totaled 2,533,000 net tons in June, a 1% increase from the 2,514,000 permit tons recorded in May 2008, according to the latest report from the American Iron and Steel Institute.
Steel import permit applications totaled 2,533,000 net tons in June, 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 represents a 1% increase from the 2,514,000 permit tons recorded in May 2008, and a 3% increase from the May preliminary imports total of 2,451,000 net tons.
For finished steel, import permit tonnage totaled 2,075,000 net tons, a 4% increase from the preliminary imports total of 1,998,000 net tons in May.
Total YTD steel imports for the first six months of 2008 (including June SIMA and May preliminary) were 15,684,000 net tons, reflecting a 12% decrease from the 17,822,000 net tons imported in the first half of last year. Total steel imports for 2008 would annualize at 31.4 million net tons, or 6% below the 2007 12-month total.
For June 2008, the largest finished steel import permit applications for offshore countries were for China (359,000 net tons), Korea (196,000 net tons), Japan (130,000 net tons), Germany (107,000 net tons), and Taiwan (58,000 net tons). Finished steel import permit applications for China increased 25% in June compared to May preliminary imports and were the highest monthly total since August of 2007.
Product categories that increased in June vs. May preliminary include:
- Wire Rods, +48%
- Hot Rolled Bars, +40%
- Standard Pipe, +41%
- Oil Country Goods, +21%
- Line Pipe, +16%
Products that showed a significant year-to-date increase vs. 2007 include Oil Country Goods (+25%) and Line Pipe (+16%).
“Concerns remain about dumped and subsidized imports of certain products from certain countries, notwithstanding the decline in overall imports through June,” said AISI President and CEO Andrew G. Sharkey III, commenting on the steel import situation in the first half of the year.
“One such concern is tubular products from China, which are continuing at high levels in the U.S. market—and still receiving export tax rebates from the government of China,” added Sharkey.
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 29 member companies, including integrated and electric furnace steelmakers, and 138 associate and affiliate members who are suppliers to or customers of the steel industry.
