The American Iron
and Steel Institute is reporting that steel import permit applications for
February totaled 2,428,000 net tons (NT), a 21.2-percent decrease from the
3,081,000 permit tons recorded in January and a 15.6-percent decrease from
the January preliminary imports total of 2,875,000 NT.
tonnage for finished steel in February was 1,950,000, down 16.2 percent from
the preliminary imports total of 2,327,000 in January.
For the first two
months of 2018, total and finished steel imports were 5,303,000 NT and
4,277,000 NT, down 4.2 percent and 3.0 percent respectively from the
finished steel import market share in February was 24 percent and is 25
percent in the year-to-date.
imports with notable month-over-month increases in February included heavy
structural shapes (up 56 percent); wire rods (up 35 percent); and wire drawn
(up 21 percent).
significant increases over the year-ago period include oil country goods (up
58 percent); hot rolled bars (up 29 percent); hot rolled sheets (up 28
percent); line pipe (up 27 percent); wire drawn (up 15 percent); and plates
in coils (up 13 percent).
In February the
largest finished steel import permit applications for offshore countries
were for South Korea (252,000 NT, down 26 percent from January); Germany
(111,000 NT, up 23 percent); Japan (110,000 NT, down 22 percent); China
(85,000 NT, up 18 percent); and Taiwan (68,000 NT, down 42 percent).
Through the first
two months of 2018, the largest offshore suppliers included Japan (251,000
NT, up 2 percent); and Germany (201,000 NT, up 50 percent).