U.S. Finished Steel Import Permits Recorded Robust Start to the Year

SEATTLE (Scrap Monster): The American Iron and Steel Institute (AISI) reported that steel import permit applications for the month of January this year totalled 2.483 million net tons. The figures, based on Steel Import Monitoring and Analysis (SIMA) by the U.S Commerce Department, suggest 9.8% surge from permit tons of 2.262 million net tons recorded in the prior month.

The import permit tonnage for finished steel totalled 1.952 million net tons in January 2022, modestly higher by 4.8%, compared to final imports total of 1.863 million net tons in December last year. The finished steel import market share was estimated at 23% during the month, said AISI.

The finished steel import with largest increase in January permits, compared to December final imports, includes heavy structural shapes and cut lengths plates, which were up by 102% and 69% respectively. Upon comparison with January 2022, the imports of tin free steel and ingots and billets and slabs increased by 63% and 56% respectively.

The largest steel import permit applications during the opening month of the year were for Canada, which recorded 13% surge over the prior month. It was followed by Brazil, Japan and South Korea.

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