July 05, 2008

US steel import permit in March increase by 14% MoM

Based on the Commerce Department’s most recent Steel Import Monitoring and Analysis data, the American Iron and Steel Institute reported that steel import permit applications for the month of April totaled 2,911,000 net tons. This was a 14% increase from the 2,546,000 permit tons recorded in March 2008 and also a 16 percent increase from the March preliminary imports total of 2,513,000 net tons.

Import permit tonnage for finished steel in April was 2,217,000 net tons an increase of 7% from the preliminary imports of 2,064,000 net tons in March. For the first four months of 2008 total steel imports were 10,574,000 net tons down 8% from the 11,504,000 net tons imported in the first four months of last year. Total steel imports for 2008 would annualize at 31.7 million net tons or 5% below the 2007, 12 month total.

For April 2008, the largest finished steel import permit applications for offshore countries were:
1. Korea 190,000 net tons
2. China 185,000 net tons
3. Japan 172,000 net tons
4. Turkey 163,000 net tons
5. Germany 146,000 net tons
Finished steel import permit applications for China declined 23% in April compared to March preliminary imports.

Product categories that increased in April vs. March preliminary include:
1. Billets & Slabs up by 55%
2. Wire Rod up by 89%
3. Reinforcing Bar up by 57%
4. Tin Free Steel up by 71%
5. Plates in Coils up by 22%

Significant products that showed a year to date increase vs. 2007 include:
1. Oil Country Goods up by18%
2. Line Pipe up by 26%
3. Structural Shapes Heavy up by 10%

Mr Andrew G Sharkey III president & CEO of AISI said that “Of particular concern are the sharp increases in wire rod and rebar and the heavy pressure on the pipe and tube markets by China and Korea. AISI and US members will continue close monitoring of imports of certain products from certain countries.”