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Steel Import Totals Still High Through the End of 2007
01/11/2008 - Steel import applications totaled 2,107,000 net tons for the month of December 2007, for a projected full-year steel import total of 33.3 million net tons that is 4% higher than 2005 import totals.
Steel import applications totaled 2,107,000 net tons for the month of December 2007, according to the latest report from the American Iron and Steel Institute (AISI).
The report, which is based on the Commerce Department’s most recent Steel Import Monitoring and Analysis (SIMA) data, shows that the December data reflect:
- An 11% decrease from the 2,355,000 permit tons recorded in November 2007
- An 8% decrease from the November preliminary imports total of 2,280,000 net tons
Import permit tonnage for finished steel was 1,712,000 net tons in December 2007, which reflects a decrease of 11% from the preliminary imports of 1,922,000 net tons in November.
For December 2007, the largest volumes of finished steel import permit applications for countries outside of North America were from China (185,000 net tons), Korea (105,000 net tons) and Japan (98,000 net tons).
Full year 2007—Based on a preliminary 12-month total that includes November preliminary and December SIMA data, full-year total imports reached 33.3 million net tons and finished steel imports reached 27.0 million net tons in 2007. These totals are 4% and 7% higher, respectively, than in 2005* (an historical high year), but 26% and 25% below the record levels of 2006.
For the full year, based on the same data, the largest offshore suppliers of finished steel imports were China (4,582,000 net tons), South Korea (2,044,000 net tons) and Japan (1,491,000 net tons). Imports of finished steel from China last year were 14% below record 2006, but were roughly double the amount in 2005. In certain categories, e.g., pipe and tube, finished steel imports set all-time records for an offshore supplier and as a percentage of market share.
“While imports decelerated during the second half of 2007, steel import totals for the year were at elevated levels,” said AISI President and CEO Andrew G. Sharkey III, commenting on preliminary 2007 import data.
“In 2007, there were strong concerns about trade and market-distorting practices in the global steel sector, and about ongoing high levels of imports in certain product categories. China, a non-market economy, remained of particular concern. Not only did China continue as the largest offshore supplier of finished steel to the U.S. and NAFTA region in 2007, but we also saw record imports of downstream steel products and of steel-containing goods in general from China last year,” concluded Sharkey.
*2006 data are not used for comparison, because 2006 was an all-time-record year for imports.
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 group comprises 32 member companies, including integrated and electric furnace steelmakers, and 125 associate and affiliate members who are suppliers to or customers of the steel industry.
