Monday, February 06, 2012WASHINGTON -- Total steel import permit applications for January totaled 2,691,000 net tons. This is a 21% increase from December 2011, according to the American Iron and Steel Institute. The figures are based on the U.S. Commerce Department's most recent steel import data.
"The January import numbers are another reminder that we need to be vigilant about the possibility of surges of unfairly trade steel to the United States this year, in the context of a still-fragile economic and steel market recovery," said Thomas J. Gibson, AISI president and CEO.
Import permit tonnage for finished steel in January was 2,103,000 net tons, up 39% from the preliminary imports total of 1,510,000 in December. January total and finished steel import permit tons would annualize at 32,295,000 net tons and 25,232,000 net tons, up 14% and 16%, respectively, vs. 2011. The estimated finished steel import market share in January was 23%.
In January, the largest finished steel import permit applications for offshore countries were for Korea (358,000 net tons, up 78% from December), Turkey (184,000, up 179%), Japan (150,000, up 45%), Germany (105,000, up 25%) and China (95,000, up 10%).
Finished steel import permits for products that registered large increases in January vs. the December preliminary include reinforcing bar (up 214%), heavy structural shapes (up 177%), cold rolled sheets (up 69%), cut length plates (up 68%), line pipe (up 64%), oil country goods (up 44%), standard pipe (up 43%) and sheets and strip all other metallic coated (up 34%).
The American Iron and Steel Institute is comprised of 25 affiliate members who are suppliers to or customers of the steel industry.
Published by The Business Journal, Youngstown, Ohio.