AISI: Steel Import Permits Plunged 14% in April

SEATTLE (Scrap Monster):  The American Iron and Steel Institute (AISI) announced notable decline in steel import permit applications by the country during the month of April this year. This is based on the latest Steel Import Monitoring and Analysis (SIMA) data published by the U.S. Department of Commerce.

The steel import permit applications totalled 2.959 million net tons during the month, which is significantly lower by almost 14% when compared with the permit tons of 3.436 million net tons recorded during prior month. On the other hand, the permits surged higher by nearly 70% from the final steel imports of 1.753 million net tons during March 2020.

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AISI Foresees Notable Decline in 2020 Finished Steel Imports

The finished steel permits recorded substantial decline by 13% when compared to final imports of 1.514 million net tons in March this year. The April ’20 finished steel import tonnage totalled 1.317 million net tons. The permits for imports of heavy structural shapes surged the most, rising by 89% from previous month final imports. Also, South Africa filed largest finished steel import permit applications of 165,000 net tons. The finished steel import market share in April was 21%.

The total and finished steel imports during the initial four-month period of the current year totalled 9.371 million net tons and 5.827 million net tons respectively. The largest offshore suppliers during the year-to-date period were South Korea, Japan and Germany.