SIMA Data Suggests Dip in Steel Import Permits, Says AISI

SEATTLE (Scrap Monster): The American Iron and Steel Institute (AISI) published most recent Steel Import Monitoring and Analysis (SIMA) data, which indicates modest decline in steel import permit applications during the month of February 2024.

Based on Commerce Department data, the permit applications totalled 2.391 million net tons in February this year. This is slightly down by approximately 3.1% when matched with 2.468 million net tons permit tons recorded during the prior month. When compared with the final imports of 2.468 million net tons in January, the February 2024 steel import permit tonnage was down by 6.2%, AISI data said.

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In February this year, the import permit tonnage for finished steel totalled 1.764 million net tons, down significantly by 7.9% from the final imports total of 1.916 million net tons in January this year.

Standard rails reported largest increase in February permits over the prior month, surging higher by almost 373%. The import permits for reinforcing bars and tin plates too were up by 111% and 74% respectively. The products with notable year-to-date increases compared with the corresponding two-month period in 2023 include sheets and strip all other metallic coated, structural pipe and tubing and hot rolled sheets.

In February 2024, the largest finished steel import permit applications for offshore countries were for Canada. The largest offshore suppliers through the initial two months of the current year were Canada, Mexico and Brazil.