AISI Published Steel Imports Statistics for May 2020

The cumulative finished steel imports too were down by 26.4% to 7.332 million net tons in Jan-May ’20.

SEATTLE (Scrap Monster): The American Iron and Steel Institute (AISI) reported notable decline in steel import permits during the month of May 2020. The AISI’s report is based on the latest Steel Import Monitoring and Analysis (SIMA) data published by the Commerce Department.

As per data, the steel import permit applications totalled 2.235 million net tons during the month. This is significantly lower by 25% from the permits which had totalled 2.981 million net tons in April this year. Also, it was down by approximately 19.4% from the 2.773 million net tons of preliminary imports in the previous month.

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AISI Forecasts 17% Contraction in Finished Steel Imports

The import permits for finished steel surged higher by 15.7% from April 2020 preliminary imports of 1.309 million net tons to 1.514 million net tons in May this year.

The steel imports totalled 11.421 million net tons in the initial five-month period of the year, which is lower by 16% from the same period in 2019. The cumulative finished steel imports too were down by 26.4% to 7.332 million net tons in Jan-May ’20.

The finished steel product with largest increase in May permits compared to April preliminary imports was oil country goods, whose permits surged higher by 93%. The import permits of standard pipe too were up significantly by 33%. The product that recorded significant increase in the initial five-month period of the current year was tin free steel, which was up by 29% in comparison with 2019.

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