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Steel News November 09, 2017 11:30:26 AM

US Finished Steel Imports Attained 26% Market Share in October

Paul Ploumis
ScrapMonster Author
The finished steel product which recorded highest surge in import permits during October when compared to September final import data was steel piling, whose permits recorded sharp 159% jump.

US Finished Steel Imports Attained 26% Market Share in October

SPOKANE (Scrap Monster): According to the most recent Steel Import Monitoring and Analysis (SIMA) data published by the American Iron and Steel Institute (AISI), the US steel import permit applications reported marginal increase during the month of October this year. This is upon comparison with the permit tons during the prior month. However, the import permits were down slightly by 0.3% over the September final imports. The steel import applications totaled 3,110,000 net tons (NT) in October 2017 as compared with 3,084,000 NT in September.

The import permit tonnage of finished steel totaled 2,419,000 net tons in October this year, down marginally by 3.4% when matched with the final imports total of 2,504,000 net tons in September this year. The finished steel import market share in October was 26%. The market share during the year-to-date period touched 27%.

The finished steel product which recorded highest surge in import permits during October when compared to September final import data was steel piling, whose permits recorded sharp 159% jump. The permit applications of tin free steel were up by 45%. Structural pipe and tubing reported 32% jump in volume of import permits. The other products to report month-on-month increase in permits were cut length plates (up 25%), plates in coils (up 20%) and hot rolled bars (up 17%). From among offshore countries, South Korea reported the largest number of permit applications. However, the permit applications from the country dropped marginally by 1% from September final to total 326,000 NT. The other leading exporters during the month were Turkey (136,000 NT) and Germany (135,000 NT).

The steel product which recorded largest increase in import permits through the initial ten months of 2017 as compared with the corresponding period in 2016 was oil country goods. The import permits of oil country goods surged higher by 231% during this period, followed by line pipes and standard pipes with year-on-year increases of 61% and 44% respectively. During the opening ten months of the current year, South Korea was the largest offshore supplier with supplies totaling 3.282 million NT. The other key suppliers included Turkey (2.089 million NT) and Japan (1.326 million NT).

Meantime, the weekly raw steel production by the country declined marginally by 1.48% during the week ending on November 4, 2017. The total domestic raw steel output during the week was 1,715,000 net tons, as compared with the previous week production figures of 1,739,000 net tons. However, the weekly production has surged higher considerably by approximately 9% in comparison with production of 1,573,000 net tons during same week the previous year.

The capability utilization rate of US steel makers was 73.6% during the week, down modestly when compared with the utilization rate of 74.6% during the previous week. However, the rate stood significantly higher when matched with 68.7% during same week the previous year.

The year-to-date crude steel output through November 4, 2017 totaled 76,474,000 net tons, up by nearly 3.9% when matched with the output of 73,583,000 net tons during the same period last year. The capacity utilization rate during the period stood higher at 74.6% as compared with the rate of 71.1% during the corresponding period last year.

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