Based on the Commerce Department’s most recent Steel Import Monitoring and Analysis (SIMA) data, the American Iron and Steel Institute (AISI) reported that steel import permit applications for the month of July totaled 2,786,000 net tons (NT).
This was an 8.2 percent decrease from the 3,036,000 permit tons recorded in June and a 3.8 percent decrease from the June preliminary imports total of 2,897,000. Import permit tonnage for finished steel in July was 1,879,000, down 6.9 percent from the preliminary imports total of 2,018,000 in June. For the first 7 months of 2021 (including July SIMA permits and June preliminary imports), total and finished steel imports were 17,474,000 NT and 11,874,000 NT, up 15.7 percent and 18.5 percent, respectively, from the same period in 2020. The estimated finished steel import market share in July was 20 percent and is 19 percent year-to-date (YTD).
Finished steel imports with large increases in July permits vs. the June preliminary imports include sheets and strip all other metallic coatings (up 39 percent), mechanical tubing (up 29 percent) and sheets and strip galvanized hot dipped (up 19 percent). Products with significant year-to date (YTD) increases vs. the same period in 2020 include hot rolled sheets (up 66 percent), hot rolled strip (up 56 percent), light shapes bars (up 55 percent), plates in coils (up 44 percent), cut lengths plates (up 42 percent), sheets and strip all other metallic coatings (up 40 percent), wire rods (up 39 percent), wire drawn (up 22 percent), hot rolled bars (up 17 percent) and heavy structural shapes (up 14 percent).
In July, the largest finished steel import permit applications for offshore countries were for South Korea (250,000 NT, down 9 percent from June preliminary), Vietnam (99,000 NT, up 162 percent), Turkey (78,000 NT, down 20 percent), Japan (71,000 NT, down 40 percent) and Taiwan (65,000 NT, down 23 percent). Through the first seven months of 2021, the largest offshore suppliers were South Korea (1,581,000 NT, up 23 percent from the same period last year) and Japan (591,000 NT, up 22 percent).
Published in the September 2021 Edition
