Steel Import Permits Down 13% in February

Import Market Share at 18 Percent

Washington, D.C., 3/2/2011 - 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 February totaled 1,815,000 net tons (NT).  This was a 13% decrease from the 2,081,000 permit tons recorded in January and an 11% decrease from the January preliminary imports total of 2,048,000 NT.    Import permit tonnage for finished steel in February was 1,368,000 NT, down 16% from the preliminary imports total of 1,632,000 NT in January but up 12 percent vs. February 2010 final imports.  February 2011 total and finished steel import permit tons would annualize at 23,181,000 NT and 17,998,000 NT, down 3% and 5%, respectively, from the 23,929,000 NT and 18,857,000 NT imported in 2010.

In February, the largest finished steel import permit applications for offshore countries were for Korea (161,000 NT, down 25% from January), Japan (128,000 NT, up 2%), Germany (70,000 NT, down 11%), Turkey (64,000 NT, up 168%) and Australia (53,000 NT, down 29%).  The estimated finished steel import market share in February was 18%.
 
Finished steel import permits for major products that registered large increases in February vs. the January preliminary include reinforcing bar (up 54%) and wire drawn (up 10%). 

AISI serves as the voice of the North American steel industry in the public policy arena and advances the case for steel in the marketplace as the preferred material of choice.  AISI also plays a lead role in the development and application of new steels and steelmaking technology.  AISI is comprised of 25 member companies, including integrated and electric furnace steelmakers, and 140 associate and affiliate members who are suppliers to or customers of the steel industry.  AISI's member companies represent approximately 80 percent of both U.S. and North American steel capacity.  For more news about steel and its applications, view AISI’s Web site at www.steel.org.

Contact:
Nancy Gravatt
Vice President, Communications
American Iron and Steel Institute
Tel: 202.452.7115