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Steel Import Permits Decline 7% in February
03/05/2010 - Steel import permit applications totaled 1,530,000 net tons for the month of February, a 7% decrease from the 1,644,000 permit tons recorded in January according to the latest report from AISI.
Steel import permit applications totaled 1,530,000 net tons for the month of February, according to the latest report from the American Iron and Steel Institute (AISI).
The AISI report, which is based on the Commerce Department’s most recent Steel Import Monitoring and Analysis (SIMA) data, shows that the February total reflects a 7% decrease from the 1,644,000 permit tons recorded in January and a 6% decrease from the January preliminary imports total of 1,634,000 net tons.
The report also shows February import permit tonnage of 1,194,000 net tons for finished steel, reflecting a 5% decrease from the preliminary imports total of 1,257,000 net tons in January.
February total steel import permit tons would annualize at 18,983,000 net tons, up 17% from the 16,215,000 net tons imported in 2009. Finished steel import permit tons would annualize at 14,704,000 net tons, up 4% from the 14,179,000 net tons of finished steel imported in 2009.
In February, the largest finished steel import permit applications for offshore countries were for Japan (113,000 net tons, up 45% from January), Korea (89,000 net tons, down 41%), Germany (55,000 net tons, up 47%), India (53,000 net tons, up 184%) and Australia (48,000 net tons, up 74%). Finished steel import market share in February is estimated at 18%
Finished steel import permits for major product categories that registered significant increases in February vs. the January preliminary include reinforcing bar (+ 108%), wire rod (+ 39%), and cut-length plate (+ 38%).
“While the aggregate import totals so far this year remain below historical levels, finished steel import market share has been creeping higher in recent months,” said AISI president and CEO Thomas J. Gibson, commenting on the February SIMA data.
“Given the fragility of emerging signs of U.S. economic and steel market recovery, AISI and its U.S. members will continue to monitor closely indications of dumped and subsidized imports from individual suppliers, and we will intensify our focus on steel Customs fraud and trade law circumvention problems.”
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. The Institute comprises 24 member companies, including integrated and electric furnace steelmakers, and 138 associate and affiliate members who are suppliers to or customers of the steel industry.
