U.S. Finished Steel Imports Surged in H1 2022

SEATTLE (Scrap Monster): The American Iron and Steel Institute (AISI) reported that steel import permit applications for the month of June this year totalled 2.722 million net tons. The figures, based on Steel Import Monitoring and Analysis (SIMA) by the U.S Commerce Department, suggest marginal increase by 2.9% from import permit tons of 2.645 million net tons recorded during the prior month.

The import tonnage for finished steel totalled 2.124 million net tons in June this year. This is significantly down by 9.0%, compared to the preliminary imports total of 2.334 million net tons in May. The finished steel import market share was estimated at 24% during the month, said AISI.

The steel imports totalled 16.671 million net tons during the first half-yearly period of the current year. This is inclusive of June SIMA permits and May preliminary imports. Meantime, the finished steel imports totalled 13.339 million net tons during Jan-June ‘22. The total and finished steel imports surged higher by 13.7% and 33.8% respectively from the corresponding six-month period in 2021.

The finished steel import with largest increase in June permits, compared to May preliminary imports, includes ingots and billets and slabs and line pipe, which were up by 49% and 25% respectively. Wire rods and Oil Country Goods registered significant year-to-date increases by 95% and 73% respectively, compared to the corresponding period in 2021.

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