U.S. Imports Rise Further in March 2014
04/02/2014 - Based on the U.S. Commerce Department’s most recent Steel Import Monitoring and Analysis (SIMA) data, the American Iron and Steel Institute (AISI) reported that steel import permit applications for the month of March total 3,485,000 tons*.
This was a 7% increase from the 3,260,000 permit tons recorded in February and 7% increase from the February preliminary imports total of 3,250,000 tons. Import permit tonnage for finished steel in March was 2,484,000, up 11% from the preliminary imports total of 2,240,000 in February. For the first three months of 2014 (including March SIMA and February preliminary), total and finished steel imports were 9,940,000 tons and 7,166,000 tons, respectively, up 29% and 18% from the same period in 2013. The estimated finished steel import market share in March was 25% and is 25% year-to-date (YTD).
Finished steel imports with large increases in March permits vs. the February preliminary included reinforcing bars (up 104%), sheets and strip all other metallic coatings (up 71%), wire rods (up 46%), heavy structural shapes (up 33%), cut lengths plates (up 21%), cold rolled sheets (up 19%), hot rolled bars (up 17%) and line pipe (up 14%). Products with significant year-to-date (YTD) increases vs. the same period in 2013 include wire rods (up 97%), plates in coils (up 82%), sheets and strip all other metallic coatings (up 48%), hot rolled sheets (up 42%), reinforcing bars (up 37%), cold rolled sheets (up 30%), mechanical tubing (up 29%), sheets and strip galvanized hot dipped (up 28%), cut lengths plates (up 21%) and oil country goods (up 17%).
In March, the largest finished steel import permit applications for offshore countries were for South Korea (364,000 tons, down 3% from February preliminary), China (229,000 tons up 30%), Turkey (197,000 tons, up 98%), Japan (184,000 tons, up 21%) and Russia (116,000 tons, up 15%). Through the first three months of 2014, the largest offshore suppliers were South Korea (1,172,000 tons, up 22% from the same period in 2013), China (596,000 tons, up 33%) and Japan (508,000, up 13%).
* Monthly permit numbers provided to date may be understated, as entry documentation with the required import license number may be submitted up to ten days after imports have entered U.S. commerce.
Finished steel imports with large increases in March permits vs. the February preliminary included reinforcing bars (up 104%), sheets and strip all other metallic coatings (up 71%), wire rods (up 46%), heavy structural shapes (up 33%), cut lengths plates (up 21%), cold rolled sheets (up 19%), hot rolled bars (up 17%) and line pipe (up 14%). Products with significant year-to-date (YTD) increases vs. the same period in 2013 include wire rods (up 97%), plates in coils (up 82%), sheets and strip all other metallic coatings (up 48%), hot rolled sheets (up 42%), reinforcing bars (up 37%), cold rolled sheets (up 30%), mechanical tubing (up 29%), sheets and strip galvanized hot dipped (up 28%), cut lengths plates (up 21%) and oil country goods (up 17%).
In March, the largest finished steel import permit applications for offshore countries were for South Korea (364,000 tons, down 3% from February preliminary), China (229,000 tons up 30%), Turkey (197,000 tons, up 98%), Japan (184,000 tons, up 21%) and Russia (116,000 tons, up 15%). Through the first three months of 2014, the largest offshore suppliers were South Korea (1,172,000 tons, up 22% from the same period in 2013), China (596,000 tons, up 33%) and Japan (508,000, up 13%).
* Monthly permit numbers provided to date may be understated, as entry documentation with the required import license number may be submitted up to ten days after imports have entered U.S. commerce.
