US Steel import permit applications increase during August
NEW YORK (Scrap Register): Based on the 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 August totaled 3,572,000 net tons (NT).
This was a 0.7% increase from the 3,549,000 permit tons recorded in July and a 2.9% increase from the July preliminary imports total of 3,472,000 NT. Import permit tonnage for finished steel in August was 2,646,000, down 7.7% from the preliminary imports total of 2,868,000 in July.
For the first eight months of 2017 (including August SIMA permits and July preliminary data), total and finished steel imports were 26,740,000 NT and 20,584,000 NT, up 21.4% and 16.5%, respectively, from the same period in 2016. The estimated finished steel import market share in August was 27% and is 28% year-to-date (YTD).
Finished steel imports with large increases in August permits vs. the July preliminary included structural pipe and tube (up 54%), tin plate (up 25%) and wire drawn (up 18%). Products with significant year-to date (YTD) increases vs. the same period in 2016 include oil country goods (up 257%), standard pipe (up 47%), line pipe (up 45%), sheets and strip all other metallic coatings (up 34%), mechanical tubing (up 33%), cold rolled sheets (up 31%), sheets and strip hot dipped galvanized (up 25%) and hot rolled bars (up 23%).
In August, the largest finished steel import permit applications for offshore countries were for South Korea (418,000 NT, up 24% from July preliminary), Germany (141,000 NT, down 5%), Turkey (132,000 NT, down 48%), Taiwan (115,000 NT, down 4%) and Japan (107,000 NT, down 22%). Through the first eight months of 2017, the largest offshore suppliers were South Korea (2,683,000 NT, down 1% from the same period in 2016), Turkey (1,855,000 NT, up 9%) and Japan (1,044,000 NT, down 18%).