Steel Imports Drop 23% in June
07/02/2009 - Steel import permit applications totaled 810,000 net tons for the month of June, a 23% decrease from the previous month according to the latest report from the American Iron and Steel Institute (AISI).
Steel import permit applications totaled 810,000 net tons for the month of June 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 June total represents a 23% decrease from the 1,055,000 permit tons recorded in May 2009, and a 21% decrease from the May preliminary imports total of 1,020,000 net tons.
The report also shows that the June import permit total included 781,000 net tons of finished steel, a decrease of 22% from the preliminary imports total of 1,002,000 net tons in May and the lowest such monthly import figure since 1975.
June 2009 total steel import permit tons would annualize at 17,112,000 net tons, down 46% from the 31,927,000 net tons imported in 2008. Finished steel import permit tons would annualize at 16,026,000 net tons, down 38%from the 25,956,000 net tons imported in 2008.
In June 2009, the largest finished steel import permit applications for offshore countries were for Japan (54,000 net tons, down 11% from May); India (52,000 net tons, up 85%); South Korea (40,000 net tons, down 66%); and China (37,000 net tons, down 75%). Finished steel import market share in June is estimated at 17%.
Finished steel import products that registered increases in June vs. the May preliminary include
- Standard Rails, + 76%
- Wire Rods, + 53%
- Heavy Structural Shapes, + 46%
- Line Pipe, + 12%
For the year to date, imports of Standard Rails have increased 16%.
“While import tonnage seems to be falling across the market, we are still concerned about unfairly traded imports, especially in these severely depressed economic conditions,” said AISI President and CEO Thomas J. Gibson, commenting on the June data. “In addition, we will continue to monitor the elevated import market share, which at 28%, continues to cause us great concern at a time when our domestic steel industry is operating at only 49% of capability.”
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.
