Steel import permit applications for the month of October totaled 1,491000 net tons (NT), according to the American Iron and Steel Institute. This was a 16% increase from the 1,283,000 permit tons recorded in September 2009 and a 24% increase from the September preliminary imports total of 1,204,000 NT.
Import permit tonnage for finished steel in October was 1,187,000 NT, which was also an increase of 16% from the preliminary imports total of 1,024,000 NT in September. October 2009 total and finished steel import permit tons would annualize at 15,942,000 NT and 14,374,000 NT, down 50% and 45%, respectively, from the 31,927,000 NT and 25,956,000 NT imported in 2008.
In October 2009, the largest finished steel import permit applications for offshore countries were for Korea (116,000 NT, up 80% from September), Japan (94,000 NT, up 85%), Turkey (69,000 NT, up 507%), the Netherlands (68,000 NT, up 192%), and China (56,000 NT, up 35%). Finished steel import market share in October is estimated at 18% and at 22% year-to-date (YTD).
Finished steel import permits for major product categories that registered significant increases in October vs. the September preliminary include wire rods (up 50%), line pipe (up 40%), oil country goods (up 39%) and hot rolled bars (up 39%).
Back to Breaking News