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Steel Import Permits Down 13% in October
11/04/2010 - Steel import permit applications reached a total of 1,812,000 net tons for the month of October, a 13% decrease from the 2,075,000 permit tons recorded in September, according to the latest report from AISI.
Steel import permit applications reached a total of 1,812,000 net tons for the month of October, according to the latest report from the American Iron and Steel Institute (AISI). The October total represents a 13% decrease from the 2,075,000 permit tons recorded in September and a 14% decrease from the September preliminary imports total of 2,107,000 net tons.
The report, which is based on the Commerce Department’s most recent Steel Import Monitoring and Analysis (SIMA) data, shows that the October total included finished steel import permit tonnage of 1,535,000 net tons, down 3% from the preliminary imports total of 1,589,000 net tons in September.
October total steel import permit tons would annualize at 24,271,000 net tons, up 50% from the 16,215,000 net tons imported in 2009. October finished steel import permit tons would annualize at 18,969,000 net tons, up 34% from the 14,179,000 net tons imported in 2009.
In October, the largest finished steel import permit applications for offshore countries were for Korea (202,000 net tons, down 3% from September), Japan (136,000 net tons, up 21%), India (73,000 net tons, up 331%), Germany (71,000 net tons, up 23%) and China (56,000 net tons, down 44%). Finished steel import market shares in October and year-to-date are 20% and 21%, respectively.
Finished steel import permits for major products that registered significant increases in October vs. the September preliminary include heavy structural shapes (up 53%), standard rail (up 29%), standard pipe (up 28%), hot dipped galvanized sheet and strip (up 22%), cold finished bars (up 19%), and wire drawn (up 17%).
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 23 member companies, including integrated and electric furnace steelmakers, and 140 associate and affiliate members who are suppliers to or customers of the steel industry.
