Based on the Commerce Department’s most recent Steel Import Monitoring and Analysis (SIMA) data, the American Iron and Steel Institute (AISI) reported that steel import permit applications for the month of February totaled 2,274,000 net tons (NT)*. This was an 24.5% decrease from the 3,013,000 permit tons recorded in January and a 25.3% decrease from the January final imports total of 3,044,000. Import permit tonnage for finished steel in February was 1,759,000, down 22.8% from the final imports total of 2,279,000 in January. For the first two months of 2022 (including February SIMA permits and January final imports), total and finished steel imports were 5,318,000 NT and 4,038,000 NT, up 23.1% and 51.0%, respectively, from the same period in 2021. The estimated finished steel import market share in February was 21% and is 23% year-to-date (YTD).

 

Steel imports with large increases in February permits vs. the January final imports include reinforcing bars (up 75%), heavy structural shapes (up 28%) and light shapes bars (up 26%). Products with significant year-to date (YTD) increases vs. the same period in 2021 include wire rods (up 118%), oil country goods (up 107%), sheets and strip all other metallic coatings (up 102%) cold rolled sheet (up 100%) and sheets and strip hot dipped galvanized (up 71%).

 

In February, the largest steel import permit applications were for Canada (453,000 NT, down 22% from January final), Mexico (415,000 NT, down 27%), Brazil (329,000 NT, down 12%), South Korea (185,000 NT, up 16%) and Vietnam (87,000 NT, down 40%). Through the first two months of 2022, the largest suppliers were Canada (1,030,000 NT, down 5% from the same period last year), Mexico (985,000 NT, up 60%) and Brazil (705,000 NT, down 35%). (AISI)