SEATTLE (Scrap Monster): The American Iron and Steel Institute (AISI) published most recent Steel Import Monitoring and Analysis (SIMA) data, which signals substantial decline in steel import permit applications in the month of August this year.
Based on Commerce Department data, the permit applications totalled 2.608 million net tons in August 2021. This is significantly down by approximately 11.4% when matched with 2.944 million net tons permit tons recorded during the prior month. When compared with July 2021 final imports of 3.078 million net tons, the August 2021 steel import permit tonnage was down by 15.3%, AISI data said.
In August, the import permit tonnage for finished steel totalled 2.042 million net tons, down 1.9% from the final imports total of 2.081 million net tons in July. Steel pipes reported largest increase in August permits over the prior month, surging higher by 263%. The import permits for structural pipe and tubing and line pipes too were up by 41% and 27% respectively.
For the initial eight-month period this year, the total and finished steel imports stood at 20.405 million net tons and 14.149 million net tons respectively.
In August, the largest finished steel import permit applications for offshore countries were for South Korea. The largest offshore suppliers through the initial eight-month period of the year were South Korea, Japan and Germany.