American Iron and Steel Institute, www.steel.org – (11-08-23) 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 October totaled 2,123,000 net tons (NT)*. This was an 8.5% decrease from the 2,319,000 permit tons recorded in September and a 3.0% decrease from the September final imports total of 2,189,000. Import permit tonnage for finished steel in October was 1,757,000, up 11.2% from the final imports total of 1,580,000 in September. For the first ten months of 2023 (including October SIMA permits and September final imports), total and finished steel imports were 23,969,000 NT and 18,485,000 NT, down 10.0% and 14.6%, respectively, from the same period in 2022. The estimated finished steel import market share in October was 19% and is 22% year-to-date (YTD). Steel imports with large increases in October permits vs. September final imports include standard rail (up 11,752%), tin plate (up 92%), wire rods (up 70%), oil country goods (up 49%) and hot rolled bars (up 41%). Products with significant year-to-date (YTD) increases vs. the same period in 2022 include standard rails (up 49%) and cut length plates (up 22%). In October, the largest steel import permit applications were for Canada (528,000 NT, down 2% from September final), Mexico (304,000 NT, down 15%), Brazil (169,000 NT, down 63%), South Korea (146,000 NT, down 56%) and Japan (134,000 NT, up 101%). Through the first ten months of 2023, the largest suppliers were Canada (5,783,000 NT, down 1%), Mexico (3,642,000 NT, down 22%) and Brazil (3,292,000 NT, up 39%). *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 – November 2023
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