SIMA Data Points to Notable Surge in Steel Import Permits

SEATTLE (Scrap Monster): The most recent report published by the American Iron and Steel Institute (AISI) suggests substantial surge in steel import permit applications during October this year.

Based on the Steel Import Monitoring and Analysis (SIMA) data published by the Department of Commerce, the permits surged higher by over 29% month-on-month from 1.982 million net tons in September ’19 to 2.560 million net tons in October this year. Upon comparison with September final imports, the permit applications increased by 34.6%. The permit applications for finished steel totalled 1.159 million net tons, down marginally by 0.9% from Sep ’19 final imports.

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The overall steel imports by the country during the intial ten-month period of the year totalled 25.152 million net tons, out of which finished steel accounted for 18.384 million net tons. This is inclusive of October SIMA permits and September final imports. When compared with the first ten months of the previous year, the total and finished steel imports were down significantly by 14.6% and 16.8% respectively.

The import permits of light shape bars increased by 81%. The other products to report large increases were black plates and wire rods whose permits were up by 44% and 35% respectively. Meantime, import permit application for black plates skyrocketed by 109% in Jan-Oct ’19.