Steel Import Permit Applications Jump 14% in April
05/08/2008 - Steel import permit applications totaled 2,911,000 net tons for the month of April, a 14% increase from the 2,546,000 permit tons recorded in the previous month, March 2008.
Steel import permit applications totaled 2,911,000 net tons for the month of April, 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 April total was a 14% increase from the 2,546,000 permit tons recorded in the previous month (March 2008), and a 16% increase from the March preliminary imports total of 2,513,000 net tons.
For finished steel, import permit tonnage reached 2,217,000 net tons in April, a 7% increase over the preliminary imports of 2,064,000 net tons in March.
Total YTD steel imports for the first four months of 2008 (including April SIMA and March preliminary) were 10,574,000 net tons, down 8% from the 11,504,000 net tons imported in the first four months of last year. Total steel imports for 2008 would annualize at 31.7 million net tons, or 5% below the 2007 12-month total.
For April 2008, the largest finished steel import permit applications for offshore countries were for Korea (190,000 net tons), China (185,000 net tons), Japan (172,000 net tons), Turkey (163,000 net tons), and Germany (146,000 net tons). Finished steel import permit applications for China declined 23% in April compared to March preliminary imports.
Product categories that increased in April vs. March preliminary include:
- Billets & Slabs + 55%
- Wire Rod, +89%
- Reinforcing Bar, +57%
- Tin Free Steel, +71%
- Plates in Coils, +22%
Significant products that showed a year-to-date increase vs. 2007 include:
- Oil Country Goods, +18%
- Line Pipe, +26%
- Heavy Structural Shapes, +10%
“Of particular concern are the sharp increases in wire rod and rebar and the heavy pressure on the pipe and tube markets by China and Korea,” said AISI President and CEO Andrew G. Sharkey III. “AISI and U.S. members will continue close monitoring of imports of certain products from certain countries.”
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 31 member companies, including integrated and electric furnace steelmakers, and 130 associate and affiliate members who are suppliers to or customers of the steel industry.
