Washington, D.C. – 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 2,804,000 net tons (NT)*. This was a 12.8% increase from the 2,485,000 permit tons recorded in May and a 20.8% increase from the May final imports total of 2,320,000. Import permit tonnage for finished steel in June was 2,111,000, up 12.8% from the final imports total of 1,872,000 in May.For the first six months of 2023 (including June SIMA permits and May final imports), total and finished steel imports were 15,017,000 NT and 11,573,000 NT, down 10.6% and 14.0%, respectively, from the same period in 2022. The estimated finished steel import market share in June was 24% and is 23% year-to-date (YTD).
Steel imports with large increases in June permits vs. May final imports include reinforcing bars (up 189%), heavy structural shapes (up 89%), ingots and billets and slabs (up 55%), hot rolled sheets (up 48%) and line pipe (up 34%). Products with significant year-to-date (YTD) increases vs. the same period in 2022 include standard rails (up 48%), oil country goods (up 36%), electrical sheet and strip (up 27%), cut lengths plates (up 24%) and line pipe (up 21%).
In June, the largest steel import permit applications were for Canada (601,000 NT, down 4% from May final), South Korea (427,000 NT, up 95%), Mexico (423,000 NT, up 50%), Brazil (288,000 NT, up 20%) and China (108,000 NT, up 134%). Through the first six months of 2023, the largest suppliers were Canada (3,614,000 NT, up 1%), Mexico (2,331,000 NT, down 21%) and Brazil (1,946,000 NT, up 25%).
*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 serves as the voice of the American steel industry in the public policy arena and advances the case for steel in the marketplace as the preferred material of choice. AISI’s membership is comprised of integrated and electric arc furnace steelmakers, and associate members who are suppliers to or customers of the steel industry. For more news about steel and its applications, view AISI’s website at www.steel.org. Follow AISI on Facebook, LinkedIn, Twitter (@AISISteel) or Instagram.