Finished Steel Import Market Share Hit 17% in October

SEATTLE (Scrap Monster): The American Iron and Steel Institute (AISI) published most recent Steel Import Monitoring and Analysis (SIMA) data, which signals virtually flat number for steel import permit applications in the month of October this year.

Based on Commerce Department data, the permit applications totalled 1.643 million net tons in October 2020. This is almost unchanged when compared with the permit tons recorded during the prior month. It must be noted that the AISI had recorded 1.642 million net tons of permits in September this year. When compared with September 2020 final imports of 1.256 million net tons, the October 2020 steel import permit tonnage was up substantially by nearly 31%, said AISI data.

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In October this year, the import permit tonnage for finished steel totalled 1.219 million net tons, up by 4.4% from the final imports total of 1.167 million net tons in September. Oil country goods reported largest increase in October permits over the prior month, surging higher by 126%. The import permits for wire rods and reinforcing bars too were up by 59% and 47% respectively. The finished steel import market share stood at 17% during the month.

The largest finished steel import permit applications for offshore countries in the month of October were for South Korea. The largest offshore suppliers through the initial ten-month period of the year were South Korea, Japan and Germany.