SEATTLE (Scrap Monster): The American Iron and Steel Institute (AISI) reported that steel import permit applications for the month of July this year totalled 2.461 million net tons. The figures, based on Steel Import Monitoring and Analysis (SIMA) by the U.S Commerce Department, suggest 12.9% dip from 2.826 million permit tons recorded in June this year.
The import tonnage for finished steel totalled 2.082 million net tons in July this year, significantly down by 5.5%, compared to preliminary imports total of 2.204 million net tons in June. The finished steel import market share was estimated at 23% during the month, said AISI press release.
The steel imports totalled 19.230 million net tons during the initial seven-month period of the year. This is inclusive of July SIMA permits and June preliminary imports. Meantime, the finished steel imports totalled 15.510 million net tons during Jan-July ‘22. The total and finished steel imports surged higher by 9.1% and 30.0% respectively from the corresponding seven-month period in 2021.
The finished steel import with largest increase in July permits, compared to June preliminary imports, includes wire rods and black plates, which were up by 48% and 42% respectively. The products with significant year-to-date increases, compared with the same seven-month period in 2021, include wire rods and oil country goods, which were up by 81% and 62% respectively.