US steel import permit data show Chinese tons on the rise

Thursday, 06 November 2008 11:44:28 (GMT+3)   |  
       

The US Department of Commerce's most recent Steel Import Monitoring and Analysis (SIMA) data show that steel import permit applications for the month of October totaled 2,908,000 net tons (nt), representing a one percent increase from the 2,867,000 nt import permit total recorded in September 2008 and a 0.5 percent decrease from the September preliminary import total of 2,921,000 nt.

Import permits for finished steel in October totaled 2,340,000 nt, a decrease of four percent from the preliminary import total of 2,428,000 nt in September.

For the first 10 months of 2008, steel imports were down roughly six percent from the same period of 2007.

In October, most finished steel import permit applications came from China (658,000 nt), followed by South Korea (171,000 nt), Japan (170,000 nt) and The Netherlands (91,000 nt).

In a press release on the October import data, the American Iron and Steel Institute pointed out that Chinese permit tons rose significantly in October for the third consecutive month, also noting that in October the US saw the highest monthly Chinese steel import permits of 2008, due largely to October's highest monthly Chinese import permit totals of 2008 for hot rolled bars, line pipe, and wire rod.


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