U.S. Steel Import Permits Posted Significant Decline in September

SEATTLE (Scrap Monster): The American Iron and Steel Institute (AISI) reported that steel import permit applications for the month of September this year totalled 2.257 million net tons. The figures, based on Steel Import Monitoring and Analysis (SIMA) by the U.S Commerce Department, suggest 9.2% dip from permit tons of 2.485 million net tons recorded in the prior month.

The import permit tonnage for finished steel totalled 1.864 million net tons in September this year, significantly down by 10.5%, compared to final imports total of 2.083 million net tons in August. The finished steel import market share was estimated at 22% during the month and at 24% during the year-to-date period, said AISI.

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The steel imports totalled 24.234 million net tons during the first nine months of 2022. This is inclusive of September SIMA permits and August final imports. Meantime, the finished steel imports totalled 19.673 million net tons during Jan-Sep ‘22. The total and finished steel imports surged higher by 4.5% and 22.5% respectively from the corresponding nine-month period in 2021.

The finished steel import with largest increase in September permits, compared to August final imports, includes steel piling and line pipe, which were up by 206% and 55% respectively. Upon comparison with the corresponding period in 2021, the imports of wire rods and oil country goods have registered significant year-to-date increase by 59% and 52% respectively.