Steel import permit applications totaled 1,015,000 net tons for the month of May 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 May total reflects a 15% decrease from the 1,187,000 permit tons recorded in April 2009 and a 16% decrease from the April preliminary imports total of 1,214,000 net tons.
The report also shows that the May import total included 999,000 net tons of finished steel, reflecting a 10% decrease from the preliminary imports total of 1,107,000 net tons in April and the lowest such monthly import figure since February 1993.
May 2009 total steel import permit tons would annualize at 18,543,000 net tons, down 42% from the 31,927,000 net tons imported in 2008. Finished steel import permit tons would annualize at 17,310,000 net tons, down 33% from the 25,956,000 net tons of finished steel imported in 2008.
In May 2009, the largest finished steel import permit applications for offshore countries were for China (153,000 net tons, up 56% from April), South Korea (120,000 net tons, up 70% from April), Japan (73,000 net tons, down 13%), Taiwan (34,000 net tons, no change) and India (27,000 net tons, down 66%). Finished steel import market share in May is estimated at 21%.
Finished steel import products that registered increases in May vs. the April preliminary include
- Reinforcing Bar, +54%
- Oil Country Goods, +37%
- Plates in Coils, +19%
Year-to-date, imports of Oil Country Tubular Goods (OCTG) remain significantly higher (+31%).
“Our key concern remains unfairly traded imports, especially at this time of severely depressed U.S. steel industry and market conditions,” said AISI President and CEO Thomas J. Gibson, commenting on the May data.
“It is also important to note that, while import tonnage overall has declined, import market share is staying at high levels even at a time when our domestic steel industry is operating at only 46% of capability and there are widespread layoffs.”
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.