Import permit tonnage for finished steel in April was 2,394,000 net tons, up 11% from the preliminary imports total of 2,163,000 net tons in March.
The 2.4 million permit tons of finished steel imports in April was the highest monthly tonnage figure in over 3 ½ years (since October 2008).
April 2012 total and finished steel import permit tons would annualize at 34,529,000 net tons and 26,534,000 net tons, up 21% and 22%, respectively, vs. the 28,515,000 net tons and 21,835,000 net tons imported in 2011. The estimated finished steel import market share in April rose to 25%, which is the highest level in the last 9 months.
In April, the largest finished steel import permit applications for offshore countries were for South Korea (335,000 net tons, up 23% from March), Japan (166,000 net tons, down 7%), China (164,000 net tons, up 57%), Russia (148,000 net tons, up 358%) and Turkey (121,000 net tons down 26%). For the first 4 months of 2012, the largest offshore suppliers were South Korea (1,260,000 net tons, up 32% from the same period in 2011), Japan (653,000 net tons, up 35%) and Turkey (634,000 net tons, up 133%).
Finished steel import permits for products that registered large increases in April vs. the March preliminary include plates in coils (up 134%), sheets and strip all other metallic coated (up 48%), hot rolled sheets (up 43%), sheets and strip galvanized hot dipped (up 37%) and hot rolled bars (up 26%). Major products with significant year-to-date (YTD) increases vs. the same period in 2011 include plates in coils (up 66%), cut length plates (up 63%) and reinforcing bar (up 54%). Notable YTD import increases in products from offshore countries include plate in coils from Russia (111,000 tons, up 1,501%), reinforcing bar from Turkey (195,000 tons, up 135%) and cut length plates from Korea (65,000 tonnage, up 538%).
Mr Thomas J Gibson AISI president and CEO stated that “The significant increase in steel imports and steel import market share in 2012 to levels that are now matching the pre-recession levels is occurring at a time when domestic steel production and capacity utilization remain well below the pre-recession level. This large increase in steel imports in 2012 is clearly outpacing the moderate gains we have seen in domestic steel demand this year. Given that rising imports and import market share contribute to lost U.S. jobs, we would strongly encourage our government leaders to elevate discussions regarding steel imports whenever possible in bilateral conversations with foreign leaders, especially when they involve issues of unfair trade.”
Source - AISI