For Immediate ReleaseJuly 5, 2012
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 2,796,000 net tons (NT). This was a 5% decrease from the 2,939,000 permit tons recorded in May and also a 5% decrease from the May preliminary imports total of 2,945,000 NT. Import permit tonnage for finished steel in June was 2,171,000 NT, down 7% from the preliminary imports total of 2,323,000 NT in May. June 2012 total and finished steel import permit tons would annualize at 34,975,000 NT and 26,965,000 NT, each up 23%, respectively, vs. the 28,515,000 NT and 21,835,000 NT imported in 2011. The estimated finished steel import market share in June was 24%.
In June, the largest finished steel import permit applications for offshore countries were for South Korea (331,000 NT, up 3% from May), China (195,000 NT, up 26%), Japan (152,000 NT, down 18%), Germany (127,000 NT, up 23%) and Taiwan (75,000 NT, down 5%). Through the first 6 months of 2012, the largest offshore suppliers were South Korea (1,885,000 NT, up 25% from the same period in 2011), Japan (1,001,000 NT, up 32%) and China (790,000 NT, up 41%). Finished steel import permits for products that registered large increases in June vs. the May preliminary include tin free steel (up 102%), hot rolled bars (up 9%) and tin plate (up 8%). Major products with significant year-to-date (YTD) increases vs. the same period in 2011 include reinforcing bars (up 55%), cut lengths plates (up 52%), oil country goods (up 41%), line pipe (up 38% and sheets and strip hot dipped galvanized (up 37%).
“With the global economy slowing and U.S. finished steel import market share at 24%, it is critical that the U.S. government strictly enforce our trade laws,” Thomas J. Gibson, AISI president and CEO, said in commenting on the June 2012 SIMA data. “There must be zero tolerance for dumped and subsidized steel imports coming into this country.” 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 member companies, including integrated and electric furnace steelmakers, and 124 associate and the development and application of new steels and steelmaking technology. AISI is comprised of 25 affiliate members who are suppliers to or customers of the steel industry. AISI's member companies represent over three quarters 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 Gravatt202.452.7115 / firstname.lastname@example.org
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