Steel Import Permits Rise 16% in October
11/05/2009 - Steel import permit applications reached 1,491000 net tons for the month of October, a 16% increase from the 1,283,000 permit tons recorded in September 2009 according to the latest report from AISI.
Steel import permit applications reached 1,491000 net tons for the month of October 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 October total reflects a 16% increase from the 1,283,000 permit tons recorded in September 2009 and a 24% increase from the September preliminary imports total of 1,204,000 net tons.
The report also shows that October’s import permit tonnage included 1,187,000 net tons of finished steel, also reflecting an increase of 16% from the preliminary imports total of 1,024,000 net tons in September.
October 2009 total steel import permit tons would annualize at 15,942,000 net tons, down 50% from the 31,927,000 net tons imported in 2008. Finished steel import permit tons would annualize at 14,374,000 net tons, down 45% 25,956,000 net tons imported in 2008.
In October 2009, the largest finished steel import permit applications for offshore countries were for Korea (116,000 net tons, up 80% from September), Japan (94,000 net tons, up 85%), Turkey (69,000 net tons, up 507%), the Netherlands (68,000 net tons, up 192%) and China (56,000 net tons, up 35%). Finished steel import market share is estimated at 18% for October, and at 22% year-to-date (YTD).
Finished steel import permits for major product categories that registered significant increases in October vs. the September preliminary include
- Wire rods, +50%
- Line pipe, +40%
- Oil country goods, +39%
- Hot rolled bars, +39%
“With utilization rates for domestic steel and U.S. manufacturing more broadly remaining at very low levels, stronger government efforts are needed to defend and enforce our trade laws and trade agreements, and to counter foreign unfair trade practices both in the U.S. market and in third country markets,” said AISI President and CEO Thomas J. Gibson, commenting on the October SIMA data. “This is why AISI commends Senators Sherrod Brown (D-OH), Debbie Stabenow (D-MI), Carl Levin (D-MI), Russell Feingold (D-WI) and Arlen Specter (D-PA) for their recent introduction of a new ‘Super 301’ bill, which will help level the international trade playing field for American manufacturers. Passage of this bill is an essential step toward enhanced U.S. government enforcement efforts to identify — and eliminate — priority foreign unfair trade practices, which are continuing to undermine our domestic manufacturing base.”
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. AISI is comprised of 24 member companies, including integrated and electric furnace steelmakers, and 138 associate and affiliate members who are suppliers to or customers of the steel industry.
