Steel Import Permit Applications Top Previous Records in May
06/12/2007 - Steel import permit applications totaled 3,014,000 net tons for May 2007—the highest monthly amount so far in 2007—according to a recent report from the American Iron and Steel Institute.
Steel import permit applications totaled 3,014,000 net tons for May 2007—the highest monthly amount so far in 2007—according to a recent report from the American Iron and Steel Institute (AISI).
The report, which is based on the Commerce Department’s Steel Import Monitoring and Analysis (SIMA) data, shows that May applications reflect a 1% increase from the 2,994,000 permit tons recorded in April 2007, a 9% increase from the April preliminary imports total of 2,760,000 net tons, and a 13% increase over the 2005 monthly average. Import permit tonnage for finished steel in May 2007 was 2,622,000 net tons, 20% above the preliminary imports of 2,186,000 net tons in April 2007, and 25% higher than the monthly average of 2,099,000 net tons in 2005.
For May 2007, the largest volumes of steel import permit applications for countries outside of North America were
- China, with 487,000 net tons
- Korea, with 215,000 net tons
- Brazil, with 213,000 net tons
Finished steel import permit applications for Chinese steel (486,000 net tons) were up 46% in May compared to the preliminary imports total for April. This tonnage for China, while still below the record tonnage amounts that occurred in the second half of last year, was 153% higher than China’s 2005 monthly average of 192,000 net tons.
In analyzing the SIMA data for the month of May, AISI President and CEO Andrew G. Sharkey III, said that, “The significant increase in May import permits, for China in particular, is a reminder that the United States remains an attractive market for the excess steel capacity of less-efficient, subsidized foreign producers. This is why competitive American steel producers are supporting the close monitoring of imports, strict enforcement of current trade laws, and prompt passage of legislation to strengthen trade laws.”
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 is comprised of 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.
