By Paul Ploumis (ScrapMonster Author)
August 04, 2016 02:54:15 AM
ALBANY (Scrap Monster): Based on the most recent Steel Import Monitoring and Analysis (SIMA) data, the American Iron and Steel Institute (AISI) reported today that the U.S. steel import permit applications for the month of July this year totaled 3,198,000 net tons (NT) of steel. The import permit tons recorded 7% rise when compared with 2,978,000 permit tons recorded in June this year. The figure is significantly higher by 22% when compared with the June preliminary imports total of 2,630,000 net tons.
The import permit tonnage of finished steel totaled 2,439,000 net tons during July, up by 10% when matched with the preliminary imports total of 2,218,000 net tons in June.
The total and finished steel imports for the initial seven-month period of the current year totaled 18,713,000 and 15,211,000 net tons (NT), down by 25% and 26% respectively, vs. the same period in 2015. It must be noted that the above figures are inclusive of June preliminary data and July SIMA permits. Finished steel import market share was estimated at 27% in July and at 25% during the initial seven-month period of the year.
Key finished steel products with a significant increase in import permits during July this year when compared to June preliminary import are standard rails (up 54%), reinforcing bars (up 45%), plates in coils (up 41%), oil country goods (up 41%), tin free steel (up 40%), hot rolled sheets (up 36%), cut lengths plates (up 21%), cold rolled sheets (up 19%) and hot rolled bars (up 12%).
In July, the largest number of import permit applications were for South Korea (424,000 NT, up 27% from June preliminary), Turkey (296,000 NT, up 51%), Japan (194,000 NT, up 33%), Taiwan (140,000 NT, up 50%) and the Netherlands (88,000 NT, up 48%).
For first seven months of 2016, the largest overseas suppliers of finished steel to the US were South Korea (2,347,000 NT, down 30%), Turkey (1,491,000 NT, down 20%) and Japan (1,049,000 NT, down 26%).
Meantime, the weekly statistics released by the steel body indicates that raw steel production by the country dropped slightly by 1.3% during the week ending July 30th, 2016.
The total domestic raw steel output during the week ending July 30th was 1,681,000 net tons. The AISI data indicates that the US raw steel production has dropped marginally by 1.3% during the week. This is in comparison with the previous week (ie., the week ended July 23rd) production figures of 1,703,000 net tons. Also, the weekly production represents modest decline of 3.9% in comparison with production of 1,750,000 net tons during same week the previous year.
The capability utilization rate of US steel makers declined to 71.9% during the week ended July 30th, 2016. The capacity utilization rate has dropped considerably when compared with 73.2% during the previous week (ie., the week ending July 23rd). Also, capacity utilization was lower when compared with the rate of 72.8% during same week the previous year.
The crude steel production by various districts during the week was as follows:- North East (188,000 NT), Great Lakes (656,000 NT), Midwest (164,000 NT), Southern (600,000 NT) and Western (73,000 NT).
The year-to-date crude steel output through July 30th totaled 52,584,000 net tons, marginally down by less than 1% when matched with the output of 53,074,000 net tons during the same period last year. The capacity utilization rate during the period was up slightly from 72.3% a year before to 72.5% during the period ended July 30th this year.
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. AISI is comprised of 19 member companies, including integrated and electric furnace steelmakers, and approximately 125 associate members who are suppliers to or customers of the steel industry.