U.S. Finished Steel Import Permits Surged

SEATTLE (Scrap Monster): The American Iron and Steel Institute (AISI) reported that steel import permit applications for the month of December last year totalled 2.182 million net tons. The figures, based on Steel Import Monitoring and Analysis (SIMA) by the U.S Commerce Department, suggest 1.9% increase from permit tons of 2.141 million net tons recorded in the prior month.

The import permit tonnage for finished steel totalled 1.850 million net tons in December 2022, modestly higher by 5.2%, compared to final imports total of 1.758 million net tons in November. The finished steel import market share was estimated at 23% during the month and at 24% during the full-year period, said AISI.

The steel imports totalled 30.822 million net tons during the full year of 2022. This is inclusive of December SIMA permits and November preliminary imports. Meantime, the finished steel imports totalled 25.245 million net tons during the previous year. The total steel imports dipped lower by 2.0%, whereas the finished steel imports surged higher by 10.9% from 2021.

The finished steel import with largest increase in December 2022 permits, compared to November preliminary imports, includes standard rail and line pipes, which were up by 182% and 70% respectively.

Upon comparison with 2021, the imports of line pipes and standard pipes have registered significant increase by 47% and 45% respectively, during the previous year.

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