Steel Import Permit Applications Slip 2% in March
04/03/2008 - Steel import permit applications totaled 2,413,000 net tons for the month of March, a 2% decrease from the 2,454,000 permit tons recorded in the previous month, February 2008.
Steel import permit applications totaled 2,413,000 net tons for the month of March, 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 March total was a 2% decrease from the 2,454,000 permit tons recorded in February 2008, and also a 2% decrease from the February preliminary imports total of 2,458,000 net tons.
For finished steel, import permit tonnage reached 1,960,000 net tons in March, a 3% increase from the preliminary imports of 1,905,000 net tons in February.
Total steel imports for the first three months of 2008 (including March SIMA and February preliminary) were 7,537,000 net tons, down 13% from the 8,655,000 net tons imported in the first quarter (1Q) of last year. Total steel imports for the first quarter of 2008 would annualize at 30.1 million net tons, or 9% below 2007’s 12-month total.
For March 2008, the largest finished steel import permit applications for offshore countries were for China (233,000 net tons), Korea (189,000 net tons), Japan (133,000 net tons), India (117,000 net tons), and Germany (80,000 net tons). Finished steel import permit applications for China declined 1% in March compared to February preliminary imports.
Product categories that increased in March vs. February preliminary include:
- Cut-Length Plates, +110%
- Standard Pipe, +60%
- Oil Country Goods, +43%
- Hot Dipped Galvanized Sheet & Strip, +35%
Products that showed an increase when comparing the first quarter of 2008 to the first quarter of 2007 include:
- Oil Country Goods, +44%
- Standard Pipe, +13%
- Structural Shapes (Heavy), +6%
“While imports overall in the first quarter of 2008 are trending below the level in the same period last year, finished steel imports this year on a monthly basis remain at a rate that is 10% higher than the monthly average in the last quarter of 2007,” said AISI President and CEO Andrew G. Sharkey III. “There is no reason to believe that injurious unfair trade in steel has been eliminated from the U.S. market, and AISI will continue to monitor closely 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.
