Steel Import Permits Increase 4% in May
06/03/2010 - Steel import permit applications totaled 2,148,000 net tons for the month of May, a 4% increase from the 2,060,000 permit tons recorded in April, according to the latest report from AISI.
Steel import permit applications totaled 2,148,000 net tons for the month of May, according to the latest report from the American Iron and Steel Institute (AISI).
The AISI report, which is based on the Commerce Department’s most recent Steel Import Monitoring and Analysis (SIMA) data, shows that the May total reflects a 4% increase from the 2,060,000 permit tons recorded in April and a 4% increase from the April preliminary imports total of 2,072,000 net tons.
May import permit tonnage for finished steel was 1,685,000 net tons, a 1% increase from the preliminary imports total of 1,672,000 net tons in April.
May total steel import permit tons would annualize at 22,847,000 net tons, up 41% from the 16,215,000 net tons imported in 2009. Finished steel import permit tons would annualize at 18,039,000 net tons, up 27% from the 14,179,000 net tons imported in 2009.
In May, the largest finished steel import permit applications for offshore countries were for Korea (182,000 net tons, down 7% from April), Japan (121,000 net tons, up 33%), Germany (94,000 net tons, up 9%), India (92,000 net tons, up 130%) and Turkey (63,000 net tons, down 27%). Finished steel import market share in May is estimated at 21%.
Finished steel import permits for major product categories that registered significant increases in May vs. the April preliminary include standard rail (up 315%), mechanical tubing (up 25%), oil country goods (up 25%), plate in coils (up 23%), and hot rolled sheets (up 12%).
“The trend of rising steel import market share is clearly continuing, and it is occurring at a time when domestic steel industry capacity utilization is currently only around 73%,” said AISI president and CEO Thomas J. Gibson, commenting on the May SIMA data. “This requires close and ongoing monitoring to ensure that no dumped and subsidized imports are entering the U.S. marketplace.”
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 138 associate and affiliate members who are suppliers to or customers of the steel industry.
