American Iron and Steel Institute, www.steel.org – (05-09-24) Based on the Commerce Department’s most recent Steel Import Monitoring and Analysis (SIMA) data, the American Iron and Steel Institute (AISI) reported today that steel import permit applications for the month of April totaled 2,734,000 net tons (NT)*. This was a 0.5% decrease from the 2,748,000 permit tons recorded in March and an 8.7% increase from the March final imports total of 2,516,000. Import permit tonnage for finished steel in April was 2,101,000, up 4.9% from the final imports total of 2,003,000 in March. For the first four months of 2024 (including April SIMA permits and March final imports), total and finished steel imports were 10,270,000 NT and 7,764,000 NT, up 3.8% and 2.3%, respectively, from the same period in 2023. The estimated finished steel import market share in April was 24% and is 23% year-to-date (YTD). Steel imports with large increases in April permits vs. March final imports include wire rods (up 83%), tin plate (up 62%), reinforcing bars (up 34%), blooms, billets and slabs (up 23%) and cold rolled sheets (up 15%). Products with significant year-to-date (YTD) increases vs. the same period in 2023 include sheets and strip all other metallic coated (up 61%), cold rolled sheets (up 44%), wire rods (40%), sheets and strip hot dipped galvanized (up 37%) and hot rolled sheets (up 32%). In April, the largest steel import permit applications were for Canada (588,000 NT, down 2% from March final), Mexico (431,000 NT, up 51%), Brazil (283,000 NT, down 28%), South Korea (232,000 NT, down 33%) and Vietnam (140,000 NT, up 59%). Through the first four months of 2024, the largest suppliers were Canada (2,295,000 NT, down 4%), Brazil (1,623,000 NT, up 14%) and Mexico (1,401,000 NT, down 14%). *Note that import permits data are counts of tonnages requested in applications for licenses to import steel products and are not `actual import volumes. For a number of reasons, permit tonnages may understate or overstate actual import volumes for the month, preliminary estimates of which will be available later this month.
AISI Press Release on Latest U.S. Imports of Steel Products – May 2024
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