American Iron and Steel Institute, www.steel.org (12-06-24) 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 November totaled 2,124,000 net tons (NT)*. This was a 5.1% decrease from the 2,238,000 permit tons recorded in October and an 11.3% decrease from the October final imports total of 2,396,000. Import permit tonnage for finished steel in November was 1,659,000, down 10.0% from the final imports total of 1,842,000 in October. For the first eleven months of 2024 (including November SIMA permits and October final imports), total and finished steel imports were 26,792,000 NT and 20,747,000 NT, up 2.8% and 3.3%, respectively, from the same period in 2023. The estimated finished steel import market share in November was 21% and is 23% year-to-date (YTD). Steel imports with large increases in November permits vs. October final imports include electrical sheet and strip (up 160%), oil country goods (up 74%), sheet and strip all other metallic coated (up 51%), standard pipe (up 11%) and line pipe (up 11%). Products with significant year-to-date (YTD) increases vs. the same period in 2023 include sheets and strip all other metallic coated (up 51%), sheets and strip hot dipped galvanized (up 40%), cold rolled sheets (28%), tin plate (up 27%) and wire rods (up 19%). In November, the largest steel import permit applications were for Canada (476,000 NT, down 13% from October final), Brazil (306,000 NT, down 16%), Mexico (268,000 NT, down 26%), South Korea (186,000 NT, up 15%) and Vietnam (144,000 NT, up 42%). Through the first eleven months of 2024, the largest suppliers were Canada (5,993,000 NT, down 6%), Brazil (4,356,000 NT, up 21%) and Mexico (3,152,000 NT, down 19%). *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 – December 2024
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