Steel Import Permits Down 3% in August
09/08/2011 - Steel import permit applications reached 2,446,000 net tons for the month of August, a 3% decrease from the 2,520,000 permit tons recorded in July according to the latest report from AISI.
Steel import permit applications reached 2,446,000 net tons for the month of August, according to the latest report from the American Iron and Steel Institute (AISI). The August total represents a 3% decrease from the 2,520,000 permit tons recorded in July and a 5% decrease from the July preliminary imports total of 2,584,000 net tons.
The report, which is based on the Commerce Department’s most recent Steel Import Monitoring and Analysis (SIMA) data, shows that the August total included import permit tonnage of 1,841,000 net tons for finished steel, down 11% from the preliminary imports total of 2,060,000 net tons in July.
Year-to date (YTD) 2011 total steel import permit tons would annualize at 29,514,000 net tons, up 23% vs. the 23,929,000 net tons imported in 2010. YTD finished steel import permit tons would annualize at 22,489,000 net tons, up 19% vs. the 18,857,000 net tons imported in 2010. The estimated finished steel import market share was 21% in August and is 22% year-to-date.
In August, the largest finished steel import permit applications for offshore countries were for Korea (212,000 net tons, down 29% from July), China (122,000 net tons, down 21%), Japan (97,000 net tons, down 30%), Germany (72,000 net tons, down 16%) and India (68,000 net tons, up 30%).
Finished steel import permits for major products that registered increases in August vs. the July preliminary include reinforcing bars (up 79%), cold finished bars (up 21%), cut-length plates (up 17%) and oil country goods (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 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.
