Steel Import Permits Down 13% in July
08/04/2011 - Steel import permit applications reached 2,447,000 net tons for the month of July, a 13% decrease from the 2,797,000 permit tons recorded in June according to the latest report from AISI.
Steel import permit applications reached 2,447,000 net tons for the month of July, according to the latest report from the American Iron and Steel Institute (AISI). The July total represents a 13% decrease from the 2,797,000 permit tons recorded in June and an 8% decrease from the June preliminary imports total of 2,670,000 net tons.
The report, which is based on the Commerce Department’s most recent Steel Import Monitoring and Analysis
(SIMA) data, shows that the July total included import permit tonnage of 2,012,000 net tons for finished steel, down 5% from the preliminary imports total of 2,110,000 net tons in June.
Year-to date (YTD) 2011 total steel import permit tons would annualize at 29,240,000 net tons, up 22% vs. the 23,929,000 net tons imported in 2010. YTD finished steel import permit tons would annualize at 22,404,000 net tons, up 19% vs. the 18,857,000 net tons imported in 2010. The estimated finished steel import market share was 23% in July and is 22% for the year to date.
In July, the largest finished steel import permit applications for offshore countries were for Korea (305,000 net tons, up 1% from June), China (148,000 net tons, down 8%), Japan (136,000 net tons, up 11%), Australia (104,000 net tons, up 168%) and Russia (81,000 net tons, down 21%).
Finished steel import permits for major products that registered increases in July vs. the June preliminary include standard rails (up 81%), hot rolled sheets (up 41%) and standard pipe (up 11%).
"While the number of steel import permits is down in July, they still reflect a significant import share in the U.S. market," said AISI President and CEO Thomas J. Gibson. "Especially with recent signs of a slowdown in economic growth, it is essential that the U.S. government aggressively enforce America's trade laws against dumped and subsidized imports.”
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.
