US steel import permit applications dropped sharply in February

ALBANY (Scrap Monster): According to American Iron and Steel Institute (AISI), the steel import permit applications totaled 3,774,000 net tons in February this year, declining sharply by 15% when compared with the previous month. The steel import permit applications had totaled 4,418,000 net tons during January ‘15.

Import permit tonnage for finished steel in Feb ‘15 was 2,966,000, down 13% from the preliminary imports total of 3,429,000 in January this year. Finished steel products that witnessed huge rise in February permits when compared with Jan ’15 preliminary imports were: reinforcing bars (up 56%), heavy structural shapes (up 38%), tin plate (up 35%) and sheets and strip hot dipped galvanized (up 16%).

The countries that topped the list in terms of largest finished steel import permit applications in Feb ‘15 were: South Korea (474,000 NT, down 43% from January preliminary), Turkey (335,000 NT up 22%), China (255,000 NT, up 29%) Japan (213,000 NT, up 1%) and Taiwan (141,000 NT, up 25%).

The total and finished steel imports for the initial two months of 2015 amounted to 8,024,000 NT and 6,395,000 NT, respectively. The imports were up by 24% and 36% respectively when compared with the corresponding two-month period in 2014.

The products that witnessed significant rise permits during January to February this year, when compared with 2014 imports were: cut length plates (up 124%), line pipe (up 83%), heavy structural shapes (up 78%), cold rolled sheets (up 62%) and standard pipe (up 58%).

The largest offshore suppliers during the initial two-month period in 2015 were South Korea (1,310,000 NT, up 59%), Turkey (610,000 NT, up 104%) and China (453,000, up 23%).