Metals
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 March totaled 2,705,000 net tons (NT). This was a 23.1 percent increase from the 2,198,000 permit tons recorded in February and an 18.2 percent increase from the February final imports total of 2,289,000. Import permit tonnage for finished steel in March was 1,943,000, up 11.1 percent from the final imports total of 1,749,000 in February. For the first three months of 2023 (including March SIMA permits and February final imports), total and finished steel imports were 7,603,000 NT and 5,693,000 NT, down 10.4 percent and 14.0 percent, respectively, from the same period in 2022. The estimated finished steel import market share in March was 22 percent and 23 percent year-to-date.
Steel imports with large increases in March permits vs. February final imports include tin free steel (up 97 percent), cut lengths plates (60 percent), tin plate (up 44 percent), ingots and billets and slabs (up 41 percent) and hot rolled sheets (up 37 percent). Products with significant year-to-date (YTD) increase vs. the same period in 2022 include oil country goods (up 61 percent), standard rails (up 48 percent), line pipe (up 39 percent), cut lengths plate (up 19 percent) and electrical sheet and strip (up 56 percent).
In March, the largest steel import permit applications were for Canada (636,000 NT, up 18 percent from February final), Brazil (509,000 NT, up 44 percent), Mexico (435,000 NT, up 14 percent), South Korea (179,000 NT, down 21 percent) and Japan (124,000 NT, up 129 percent). Through the first three months of 2023, the largest suppliers were Canada (1,767,000 NT, up 4 percent), Mexico (1,272,000 NT, down 18 percent) and Brazil (1,257,000 NT, up 27 percent).