AISI: Steel Import Permits Declined Rapidly

The steel import permit applications for the month totalled 1.864 million net tons.

SEATTLE (Scrap Monster): The American Iron and Steel Institute (AISI) reported substantial decline in U.S. steel import permit applications for the month of November this year. This is with reference to the latest Steel Import Monitoring and Analysis (SIMA) data published by the U.S. Commerce Department.

The steel import permit applications for the month totalled 1.864 million net tons. This is down significantly by over 28% from the 2.594 million net tons recorded during the prior month. When matched with the October preliminary imports of 2.177 million net tons, the November ’19 permit applications were down sharply by 14.4%. The import permit tonnage for finished steel in November this year recorded a decline of approximately 19%, dropping from October ’19 preliminary imports total of 1.479 million net tons to 1.201 million net tons.

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The cumulative total steel imports from January to November in 2019 were 26.634 million net tons, down by 16.3% from the corresponding period in 2018. The finished steel imports in Jan-November ’19 too were down significantly by 18.6% year-on-year to total 19.545 million net tons. The finished steel market share stood at 19% during the first eleven months of the current year.

The SIMA data for November 2019 suggests notable surge in imports of black plates, whose imports skyrocketed by almost 353%. Also, imports permits of cut length plates were up by 39%. The permit applications for finished steel imports from Japan and South Korea recorded marginal surge by 1% and 3% respectively, whereas those from Germany and Taiwan were down by 29% and 9% respectively. The largest increase of 133% was reported by the Netherlands.

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