Steel Import Permits up 7% in April
05/05/2011 - Steel import permit applications reached 2,626,000 net tons for the month of April, a 7% increase from the 2,455,000 permit tons recorded in March according to the latest report from AISI.
Steel import permit applications reached 2,626,000 net tons for the month of April according to the latest report from the American Iron and Steel Institute (AISI). The April total represents a 7% increase from the 2,455,000 permit tons recorded in March and a 7% increase from the March preliminary imports total of 2,446,000 net tons.
The report, which is based on the Commerce Department’s most recent Steel Import Monitoring and Analysis (SIMA) data, shows that the April total included import tonnage of 1,999,000 net tons for finished steel, up 8% from the preliminary imports total of 1,850,000 net tons in March.
Total imports in April were at their highest level in two-and-a-half years, and finished imports were higher than in any month since January 2009.
April 2011 total steel import permit tons would annualize at 27,100,000 net tons, up 13% from the 23,929,000 net tons imported in 2010, while finished steel import permit tons would annualize at 20,964,000 net tons, up 11% from the 18,857,000 net tons imported in 2010. The estimated finished steel import market share in April rose to 23%, the highest level since July 2010.
In April, the largest finished steel import permit applications for offshore countries were for Korea (347,000 net tons, up 51% from March), India (126,000 net tons, up 138%), Japan (116,000 net tons, up 3%), China (104,000 net tons, up 55%) and Turkey (93,000 net tons, up 89%).
Finished steel import permits for major products that registered large increases in April vs. the March preliminary include
· Plates in coils (up 85%)
· Line pipe (up 69%)
· Hot dip galvanized sheet and strip (up 46%)
· Reinforcing bar (up 41%)
· Hot rolled sheets (up 19%).
“Finished steel imports in the month of April rose to a pre-recession level and were the highest in 27 months, as import market share increased to a 9-month high,” said AISI President and CEO Thomas J. Gibson, commenting on the April 2011 SIMA data. “Meanwhile, the recovery is still fragile and domestic steel production, shipments and demand -- while improving -- remain well below pre-recession levels. These rising import levels are a concern, and strong trade law enforcement remains critical for our industry.”
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 118 associate and affiliate members who are suppliers to or customers of the steel industry.
