Chesterton Tribune

 

 

Steel import applications spiked in January

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The American Iron and Steel Institute (AISI) is reporting that steel import permit applications for January totaled 3,352,000 net tons (NT): a 45.6-percent increase from December and a 115.8-percent increase from the December preliminary imports total.

Import permit tonnage for finished steel in January was 1,559,000, up 15.7 percent from the December preliminary imports total.

The estimated finished steel import market share in January was 17 percent.

Finished steel imports with large month-over-month increases in January included reinforcing bars (up 133 percent); sheet and strip all other metallic coatings (up 108 percent); heavy structural shapes (up 108 percent); wire rods (up 80 percent); sheets and strip galvanized hot dipped (up 45 percent); mechanical tubing (up 39 percent); and wire drawn (up 31 percent).

In January, the largest finished steel import permit applications for offshore countries were for South Korea (159,000 NT, down 5 percent from December preliminary); Japan (76,000 NT, up 14 percent); Turkey (50,000 NT, up 646 percent); Germany (50,000 NT, down 40 percent); and Taiwan (42,000 NT, up 42 percent).

Note that import permits data are counts of tonnages requested in applications for licenses to import steel mill products and are not actual import volumes.

For a number of reasons, permit tonnages may understate or overstate actual import volumes for the month, preliminary estimates of which will be available later this month.

 

Posted 2/6/2020

 
 
 
 

 

 

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