AISI Releases May SIMA Imports Data

Finished Import Market Share Estimated at 24 Percent in May

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 May totaled 2,619,000 net tons (NT)*. This was a 5.4% decrease from the 2,768,000 permit tons recorded in April and a 6.5% decrease from the April final imports total of 2,801,000. Import permit tonnage for finished steel in May was 2,126,000, up 1.6% from the final imports total of 2,092,000 in April. For the first five months of 2024 (including May SIMA permits and April final imports), total and finished steel imports were 12,956,000 NT and 9,881,000 NT, up 6.1% and 4.4%, respectively, from the same period in 2023. The estimated finished steel import market share in May was 24% and is 23% year-to-date (YTD).

Steel imports with large increases in May permits vs. April final imports include line pipe (up 54%), oil country goods (up 44%), standard pipe (up 24%), sheets and strip hot dipped galvanized (up 23%) and sheets and strip all other metallic coated (up 18%). Products with significant year-to-date (YTD) increases vs. the same period in 2023 include sheets and strip all other metallic coated (up 70%), sheets and strip hot dipped galvanized (up 42%), cold rolled sheets (38%), wire rods (up 30%) and structural pipe and tubing (up 25%).

In May, the largest steel import permit applications were for Canada (538,000 NT, down 8% from April final), South Korea (348,000 NT, up 67%), Brazil (321,000 NT, down 17%), Mexico (310,000 NT, down 27%) and Vietnam (155,000 NT, up 7%). Through the first five months of 2024, the largest suppliers were Canada (2,836,000 NT, down 6%), Brazil (2,043,000 NT, up 23%) and Mexico (1,714,000 NT, down 10%).

*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.