American Iron and Steel Institute, www.steel.org – (07-11-24) 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 June totaled 2,422,000 net tons (NT)*. This was a 10.7% decrease from the 2,711,000 permit tons recorded in May and a 15.1% decrease from the May final imports total of 2,851,000. Import permit tonnage for finished steel in June was 1,862,000, down 16.5% from the final imports total of 2,230,000 in May. For the first six months of 2024 (including June SIMA permits and May final imports), total and finished steel imports were 15,610,000 NT and 11,848,000 NT, up 4.0% and 3.4%, respectively, from the same period in 2023. The estimated finished steel import market share in June was 22% and is 23% year-to-date (YTD). Steel imports with large increases in June permits vs. May final imports include steel piling (up 167%), heavy structural shapes (up 29%) and hot rolled sheets (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 74%), sheets and strip hot dipped galvanized (up 41%), wire rods (35%), cold rolled sheets (up 32%) and heavy structural shapes (up 18%). In June, the largest steel import permit applications were for Canada (563,000 NT, down 2% from May final), Brazil (458,000 NT, up 1%), South Korea (252,000 NT, down 32%), Mexico (197,000 NT, down 36%) and Vietnam (113,000 NT, down 24%). Through the first six months of 2024, the largest suppliers were Canada (3,433,000 NT, down 6%), Brazil (2,620,000 NT, up 26%) and Mexico (1,921,000 NT, down 17%). *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 – July 2024
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