Steel Import Permits Down 13% in February
03/03/2011 - Steel import applications reached a total of 1,815,000 net tons net tons for the month of February, a 13% decrease from the 2,081,000 permit tons recorded in January according to the latest report from AISI.
Steel import applications reached a total of 1,815,000 net tons net tons for the month of February, according to the latest report from the American Iron and Steel Institute (AISI). The February total represents a 13% decrease from the 2,081,000 permit tons recorded in January and an 11% decrease from the January preliminary imports total of 2,048,000 net tons.
The report, which is based on the Commerce Department’s most recent Steel Import Monitoring and Analysis (SIMA) data, shows that February total includes import tonnage of 1,368,000 net tons of finished steel, down 16% from the preliminary imports total of 1,632,000 net tons in January but up 12% vs. February 2010 final imports.
February 2011 total steel import permit tons would annualize at 23,181,000 net tons, down 3% from the 23,929,000 net tons, while finished steel import permit tons would annualize at 17,998,000 net tons, down 5% from the 18,857,000 net finished tons imported in 2010.
In February, the largest finished steel import permit applications for offshore countries were for Korea (161,000 net tons, down 25% from January), Japan (128,000 net tons, up 2%), Germany (70,000 net tons, down 11%), Turkey (64,000 net tons, up 168%) and Australia (53,000 net tons, down 29%). The estimated finished steel import market share in February was 18%.
Finished steel import permits for major products that registered large increases in February vs. the January preliminary include reinforcing bar (up 54%) and wire drawn (up 10%).
Finished steel import permits for major products that registered large increases in February vs. the January preliminary include reinforcing bar (up 54%) and wire drawn (up 10%).
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 25 member companies, including integrated and electric furnace steelmakers, and 140 associate and affiliate members who are suppliers to or customers of the steel industry.
