Steel Imports Drop 22% in April
05/07/2009 - Steel import applications totaled 1,170,000 net tons for the month of April 2009, a 22% decrease from March 2009 permit tons and the March preliminary imports total, according to the latest report from AISI.
Steel import applications totaled 1,170,000 net tons for the month of April 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 April total reflects a 22% decrease from both the 1,503,000 permit tons recorded in March 2009 and the March preliminary imports total of 1,505,000 net tons.
The report also shows that the April total included 1,046,000 net tons of finished steel, reflecting a 27% decrease from the preliminary imports total of 1,437,000 net tons in March and the lowest monthly import figure since February 1993.
April 2009 total import permit tons would annualize at 19,894,000 net tons, down 38% from the 31,927,000 net tons imported in 2008. April 2009 finished steel import tons would annualize at 18,353,000 net tons, down 29% from the 25,956,000 net tons imported in 2008.
In April 2009, the largest finished steel import permit applications for offshore countries were for China (93,000 net tons), India (76,000 net tons), Japan (73,000 net tons), South Korea (68,000 net tons) and Germany (51,000 net tons). Although finished imports from NAFTA countries were at the same import market share as in March (32%), finished imports from a large number of smaller foreign suppliers actually increased in April vs. the prior month. Finished steel import market share in April, despite the 27% monthly drop from March, is estimated at 24%, equal to 2008.
Major finished steel import products that registered increases in April vs. the March preliminary include
- Electrolytic Galvanized Sheet and Strip, +23%
- Heavy Structural Shapes, +16%
- Cold Rolled Sheets, + 7%
For the year to date, imports of Oil Country Tubular Goods (OCTG) remain significantly higher (+48%).
“In view of the unprecedented downturn in the domestic steel market, one needs to look at these import volumes unrelated to past market conditions,” said AISI President and CEO Thomas J. Gibson, commenting on the April data. “While import volumes overall are down significantly, there has been little reduction in import market share — and given a domestic industry that is operating at close to 40% — these import volumes are displacing production and jobs that the domestic industry critically needs.”
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 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.
