Steel Imports Drop 9% in March
04/02/2009 - Steel import permit applications totaled 1,416,000 net tons for the month of March, a 9% decrease from the February preliminary imports total, according to the latest report from the AISI.
Steel import permit applications totaled 1,416,000 net tons for the month of March 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 March total reflects a 15% decrease from the 1,661,000 permit tons recorded in February 2009, and a 9% decrease from the February preliminary imports total of 1,553,000 net tons.
The report also shows that the March total included 1,353,000 net tons of finished steel, reflecting a 6% decrease from the preliminary imports total of 1,443,000 net tons in February.
March 2009 steel import permit tons would annualize at 21,348,000 net tons, down 33% from the 31,927,000 net tons imported in 2008. March 2009 finished steel import permit tons would annualize at 19,812,000 net tons, down 24% from the 25,956,000 net tons imported in 2008.
In March 2009, the largest finished steel import permit applications for offshore countries were for China (155,000 net tons), South Korea (126,000 net tons), Japan (113,000 net tons), India (93,000 net tons) and Turkey (77,000 net tons). Cumulative tonnage from the top three offshore suppliers (China, South Korea and Japan) accounted for 31% of all finished imports in March, which was equal to the amount from NAFTA countries (32%). Finished steel import market share in March is estimated at close to 30%, remaining at an elevated level in comparison to recent annual import totals.
Major finished steel import products that registered large increases in March vs. the February preliminary include
- Reinforcing Bar, + 176%
- Mechanical Tubing, + 32%
- Line Pipe, + 32%
- Standard Rails, + 22%
“In the midst of a severe global recession, the underlying foreign government policies and practices that have severely disrupted world steel markets continue unchanged,” said AISI President and CEO Thomas J. Gibson, commenting on the March 2009 import data. “Especially at this time of economic crisis, it is critical that we remain vigilant against any unfair trade surges in the U.S. market.”
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.
