Source: Scrap Monster
The latest report published by the American Iron and Steel Institute (AISI) indicates notable surge in total steel import permit applications during the month of June this year. However, the import permits for finished steel witnessed decline when compared with the prior month.
Based on the latest Steel Import Monitoring and Analysis (SIMA) data by the Department of Commerce, the permits surged higher marginally by 2.3% month-on-month from 2.633 million net tons in May ’19 to 2.695 million net tons in May this year. The permit applications surged higher by nearly 31% when matched with the preliminary imports during May. The permit applications for finished steel in June 2019 declined over the prior month to total 1.786 million net tons.
U.S. Steel Mill Shipments Witnessed Marginal Decline
Annual Finished Steel Imports to Dip by 7% in 2019
The cumulative steel imports by the country during the first five months of the current year totaled 16.279 million net tons, out of which finished steel accounted for 11.739 million net tons. The above is inclusive of May preliminary imports and June SIMA permits. When compared with Jan-May ‘18, the total and finished steel imports were down significantly by 9.0% and 16.2% respectively.
The import permits of black plates recorded the largest increase, surging higher by 540% over the month. The other products to report notable jump in import permits were pressure tubing and steel piling, whose permits recorded notable increase by 199% and 120% respectively.
The largest permit applications for import of finished steel from offshore countries were for South Korea, Japan and Germany.