Finished Steel Import Permits Slumped in the U.S

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

Based on Commerce Department data, the permit applications totalled 2.003 million net tons in June 2020. This is significantly lower by 12.3% when matched with 2.285 million net tons permit tons recorded in the same month a year before. When compared with May 2020 final imports of 1.500 million net tons, the May 2020 steel import permit tonnage was down by approximately 11%, AISI data said.

In June, the import permit tonnage for finished steel totalled 1.415 million net tons, down by 5.7% from the final imports total of 1.500 million net tons in the month of May this year. Light shapes bar reported largest increase in June permits over the prior month, surging higher by 77%, followed by hot dipped galvanized sheets and strip and cold finished bars, whose exports were up by 68% and 55% month-on-month respectively.

The total steel imports during the initial six-month period of the current year stood at 12.999 million net tons, down by nearly 17% from the prior year. Meantime, finished steel imports in Jan-May ’20 were down sharply by 25.3% from the same period in 2019. The largest offshore suppliers through H1 this year were South Korea, Japan and Germany.

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