On Thursday, the American Iron and Steel Institute (AISI) reported that based on the most recent Steel Import Monitoring and Analysis (SIMA) data, steel import permit applications for the month of June totaled 2.8 million net tons (nt), 5 percent lower than the 2.9 million permit nt and preliminary imports recorded in May. Import permit tonnage for finished steel in June was 2.17 million nt, down 7 percent from the preliminary imports total of 2.3 million nt in May. June 2012 total and finished steel import permit tons would annualize at 34.9 million nt and 26.9 million nt, each up 23 percent, respectively, versus the 28.8 million nt and 21.8 million nt imported in 2011. The estimated finished steel import market share in June was 24 percent.
In June, the largest finished steel import permit applications for offshore countries were for South Korea (331,000 nt and up 3 percent from May); China (195,000 nt and up 26 percent); Japan (152,000 nt and down 18 percent); Germany (127,000 nt and up 23 percent); and Taiwan (75,000 nt and down 5 percent). Through the first six months of 2012, the largest offshore suppliers were South Korea, Japan and China.
Finished steel import permits for products that registered large increases in June compared to the May preliminary include tin free steel (up 102 percent), hot rolled bars (up 9 percent) and tin plate (up 8 percent). Major products with significant year-to-date increases over the same period in 2011 include rebar (up 55 percent), cut lengths plates (up 52 percent), oil country goods (up 41 percent), line pipe (up 38 percent) and sheets and strip hot dipped galvanized (up 37 percent).