AISI Releases March SIMA Imports Data

Finished Import Market Share Estimated at 23 Percent in March

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 March totaled 2,689,000 net tons (NT)*. This was an 11.3% increase from the 2,417,000 permit tons recorded in February and an 8.8% increase from the February final imports total of 2,471,000. Import permit tonnage for finished steel in March was 2,067,000, up 18.5% from the final imports total of 1,744,000 in February. For the first three months of 2024 (including March SIMA permits and February final imports), total and finished steel imports were 7,709,000 NT and 5,627,000 NT, up 2.6% and 1.2%, respectively, from the same period in 2023. The estimated finished steel import market share in March was 23% and is 22% year-to-date (YTD).

Steel imports with large increases in March permits vs. February final imports include line pipe (up 120%), plates in coils (up 71%), hot rolled sheets (up 36%), mechanical tubing (up 30%) and sheets and strip hot dipped galvanized (up 25%). Products with significant year-to-date (YTD) increases vs. the same period in 2023 include sheets and strip all other metallic coated (up 53%), cold rolled sheets (up 36%), sheets and strip hot dipped galvanized (up 33%), cut lengths plates (up 32%) and structural pipe and tubing (up 31%).

In March, the largest steel import permit applications were for Canada (563,000 NT, up 5% from February final), Brazil (545,000 NT, up 8%), South Korea (384,000 NT, up 108%), Mexico (281,000 NT, down 14%) and Japan (100,000 NT, up 36%). Through the first three months of 2024, the largest suppliers were Canada (1,675,000 NT, down 7%), Brazil (1,468,000 NT, up 22%) and Mexico (978,000 NT, down 23%).

*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.

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Contact: Lisa Harrison

202.452.7115 / lharrison@steel.org

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 (EAF) steelmakers reflecting the production of both carbon and stainless steels which are critical to the everyday lives of all Americans — including national security, roads and bridges, the electrical grid, clean energy technologies and the automotive market. AISI also represents nearly 80 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.