Steel Import Witnessed Stability in October, Says SIMA Data

SEATTLE (Scrap Monster): The American Iron and Steel Institute (AISI) reported that the steel import permit applications remained nearly unchanged in October this year, in comparison with the prior month.

Based on the latest Steel Import Monitoring Data (SIMA) data published by the U.S. Commerce Department, the steel import permit applications totalled 2.298 million net tons (NT) in October this year. This compares to 2.301 million NT permit tons recorded in September 2022. The permit applications recorded modest 2.6% jump from the final imports of 2.241 million NT in September this year.

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Meantime, the import permit tonnage for finished steel totalled 1.873 million NT, marginally higher by 0.7% from the final imports of 1.860 million NT in September. The finished steel imports constituted 22% of the market share in October.

The steel products which recorded largest surge in October permits, in comparison with September final imports, include sheets and strip galvanized electrolytic as well as heavy structural shapes, which were up by 98% and 69% respectively. Canada, Brazil and Mexico emerged as the top three countries in terms of largest steel import permit applications in October 2022.

The total and finished steel imports totalled 26.517 million NT and 21.542 million NT in the first ten months of the current year.