U.S. Finished Steel Import Permits for Taiwan Surged The Most

SEATTLE (Scrap Monster): The latest data published by the American Iron and Steel Institute (AISI) indicates that finished steel import permit applications for Taiwan totalled 102,000 net tons in December last year, rising significantly by 40% from November preliminary imports. The only other major offshore country to record surge in import permit applications was South Korea. The applications for the country were up by 10% to 255,000 net tons during the month.

On the contrary, the import permit applications for Japan registered huge decline by 44% to total 86,000 net tons. The other countries to record decline in applications were Vietnam and Turkey, which were down by 15% and 19% respectively.

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The finished steel product, which recorded largest increase in December import permits, compared to November preliminary imports was steel piling, followed by tin plate, tin free steel, mechanical tubing, line pipe, standard pipe and wire rods.

The products with notable increases for the full year 2021 over the previous year include hot rolled sheets, plates in coils, sheets and strip all other metallic coatings, oil country goods, wire rods and cut lengths plates.

As per the data published by the U.S. Department of Commerce, steel import permit applications totalled 2.945 million net tons and 32.626 million net tons in December 2021 and Jan-Dec ’21 respectively.