Steel Imports Log First Monthly Increase in 2009
08/06/2009 - Steel import permit applications totaled 951,000 net tons for the month of July, a 5% increase from permit tons recorded in June, according to the latest report from AISI.
Steel import permit applications totaled 951,000 net tons for the month of July according to the latest report from the American Iron and Steel Institute (AISI).
The AISI report, which is based on the Commerce Department’s most recent Steel Import Monitoring and Analysis (SIMA) data, shows that the July total represents a 5% increase from the 902,000 permit tons recorded in June 2009 and a 12% increase from the June preliminary imports total of 849,000 net tons. This was the first monthly increase this year.
The report also shows the July import permit total included 851,000 net tons of finished steel, a 7% increase from the preliminary imports total of 798,000 net tons in June.
July 2009 total steel import permit tons would annualize at 16,392,000 net tons, down 49% from the 31,927,000 net tons imported in 2008. Finished steel import permit tons would annualize at 15,249,000 net tons, down 41% from the 25,956,000 net tons imported in 2008.
In July 2009, the largest finished steel import permit applications for offshore countries were for Japan (87,000 net tons, up 47% from June), South Korea (75,000 net tons, up 88%), Turkey (32,000 net tons, up 1500%) and China (30,000 net tons, down 32%). Finished steel import market share in July is estimated at 16% and at 25% year-to-date (YTD).
Finished steel import products that registered increases in July vs. the June preliminary include
- Sheet & Strip – All Other Metallic Coatings, + 135%
- Plates in Coils, + 79%
- Bars – Light Shapes, + 78%
- Reinforcing Bar, + 70%
- Hot Rolled Bar, + 25%
“This is the first time in 2009 that monthly imports have gone up, but aggregate import totals remain relatively low, reflecting in part the severely depressed U.S. market conditions compared to other world regions,” said AISI President and CEO Thomas J. Gibson, commenting on the July data. “With the domestic steel industry operating at only 53% capacity utilization and with imports year-to-date taking a quarter of the U.S. market, it is especially critical to be vigilant against any unfair trade 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.
