Steel Import Permits Down 11% in September
10/06/2011 - Steel import permit applications reached 2,221,000 net tons for the month of September, an 11% decrease from the 2,481,000 permit tons recorded in August according to the latest report from AISI.
Steel import permit applications reached 2,221,000 net tons for the month of September, according to the latest report from the American Iron and Steel Institute (AISI). The September total represents an 11% decrease from the 2,481,000 permit tons recorded in August and a 9% decrease from the August preliminary imports total of 2,440,000 net tons.
The report, which is based on the Commerce Department’s most recent Steel Import Monitoring and Analysis (SIMA) data, shows that the September total included import permit tonnage of 1,659,000 net tons for finished steel, down 9% from the preliminary imports total of 1,813,000 net tons in August.
Year-to date (YTD) 2011 total steel import permit tons would annualize at 29,236,000 net tons, up 22% vs. the 23,929,000 net tons imported in 2010. YTD finished steel import permit tons would annualize at 22,212,000 net tons, up 18% vs. the 18,857,000 net tons imported in 2010. The estimated finished steel import market share was 20% in September and 22% for the year to date.
In September, the largest finished steel import permit applications for offshore countries were for Korea (199,000 net tons, down 0.3% from August), Japan (128,000 net tons, up 40% vs. August), China (113,000 net tons, down 5%), Germany (74,000 net tons, down 9%) and The Netherlands (62,000 net tons, up 138%).
Finished steel import permits for major products that registered large increases in September vs. the August preliminary include standard rail (up 104%), tin plate (up 29%) and sheets and strip all other metallic coated (up 54%).
“Given the significant underutilization of domestic steel capacity and the slowdown in the U.S. and global economic recovery, the substantial finished steel import market share of 22 percent remains of concern,” said AISI President & CEO Thomas J. Gibson. “At a time when our economic recovery is at increased risk, AISI believes more needs to be done to combat currency manipulation and other unfair trade practices that enable producers in China and elsewhere to ship steel and other manufactured goods here at dumped and subsidized prices.”
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 member companies, including integrated and electric furnace steelmakers, and 140 associate and the development and application of new steels and steelmaking technology. The Institute comprises 25 affiliate members who are suppliers to or customers of the steel industry.
