Washington, D.C. – 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 August totaled 2,947,000 net tons (NT)*. This was an 8.0% decrease from the 3,204,000 permit tons recorded in July and a 1.0% decrease from the July preliminary imports total of 2,978,000 NT. Import permit tonnage for finished steel in August was 1,940,000, down 11.0% from the preliminary imports total of 2,179,000 in July. For the first eight months of 2018 (including August SIMA permits and July preliminary data), total and finished steel imports were 23,809,000 NT and 18,131,000 NT, down 10.5% and 11.4%, respectively, from the same period in 2017. The estimated finished steel import market share in August was 21% and is 24% year-to-date (YTD).
Finished steel imports with large increases in August permits vs. the July preliminary included wire rods (up 74%), cut lengths plates (up 29%) and wire drawn (up 12%). Products with significant year-to date (YTD) increases vs. the same period in 2017 include plates in coils (up 19%) and hot rolled sheets (up 16%).
In August, the largest finished steel import permit applications for offshore countries were for Turkey (164,000 NT, up 122% from July preliminary), South Korea (162,000 NT, down 14%), Germany (119,000 NT, up 21%), Japan (103,000 NT, down 22%) and Vietnam (77,000 NT, down 35%). Through the first eight months of 2018, the largest offshore suppliers were South Korea (2,094,000 NT, down 20% from the same period last year), Japan (976,000 NT, down 8%) and Turkey (885,000 NT, down 52%).
* Monthly permit numbers provided to date may be understated, as entry documentation with the required import license number may be submitted up to ten days after imports have entered U.S. commerce.