By Paul Ploumis (ScrapMonster Author)
April 07, 2016 02:23:51 AM
SEATTLE (Scrap Monster): Based on the Commerce Department’s most recent Steel Import Monitoring and Analysis (SIMA) data, the American Iron and Steel Institute (AISI) reported today that steel import permit applications for the month of March this year totaled 2,969,000 net tons (NT). This was a sharp 23% increase from the 2,414,000 permit tons recorded in February this year and a 30% increase from the Feb ‘16 final imports total of 2,276,000 NT.
Import permit tonnage for finished steel in March was 2,120,000 NT, up 1% from the final imports total of 2,099,000 in February. The estimated finished steel import market share in March was 24% and is 25% year-to-date (YTD).
Finished steel imports with large increases in March permits vs. Feb ’16 final included standard rails (up 387%), cut lengths plates (up 62%), sheets and strip all other metallic coatings (up 19%), heavy structural shapes (up 16%) and wire drawn (up 11%).
In March, the largest finished steel import permit applications for offshore countries were for South Korea (342,000 NT, down 9% from February final), Turkey (224,000 NT up 8%), Japan (161,000 NT, up 41%), Germany (99,000 NT, up 23%) and China (67,000 NT, down 17%).
Through the first three months of 2016, the largest offshore suppliers were South Korea (960,000 NT, down 49% from the same period in 2015), Turkey (676,000 NT, down 32%) and Japan (464,000 NT, down 27%).
Courtesy: American Iron and Steel Institute
