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Steel Import Permit Applications Drop 12%
WASHINGTON -- Applications for permits to import steel during November totaled 3,938,000 net tons, a 12% decrease from the 4,482,000 permit tons in October and a 10% decrease from the October preliminary imports total of 4,398,000 net tons, the American Iron and Steel Institute reports.
Import permit tonnage for finished steel in November was 3,028,000, down 11% from the preliminary imports total of 3,396,000 in October, says AISI. For the first 11 months of 2014, total and finished steel imports were 40,902,000 net tons and 30,839,000 net tons, respectively, up 38% and 34% from the same period in 2013. The estimated finished steel import market share in November was 30% and is 28% year-to-date.
Finished steel imports with large increases in November permits versus the October preliminary report included reinforcing bars (up 23%), oil country goods (up 17%) and sheets and strip all other metallic coatings (up 15%). Products with significant year-to-date increases compared to the same period in 2013 are plates in coils (up 87%), wire rods (up 84%), cold rolled sheets (up 83%), cut lengths plates (up 78%), sheets and strip hot dipped galvanized (up 61%), heavy structural shapes (up 55%), hot rolled sheets (up 46%), sheets and strip all other metallic coatings (up 46%), tin plate (up 29%), mechanical tubing (up 28%), oil country goods (up 20%) and reinforcing bars (up 19%).
In November, the largest finished steel import permit applications for offshore countries were for South Korea (592,000 net tons, up 8% from October preliminary), China (250,000, down 32%), Turkey (228,000, down 30%), Japan (140,000, down 41%) and India (137,000, up 107%).
From Jan. 1 through Nov. 30, the largest offshore suppliers were South Korea (5,155,000, up 51% from the same period in 2013), China (2,960,000, up 69%) and Turkey (2,036,000, up 76%).
Published by The Business Journal, Youngstown, Ohio.
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