May SIMA Imports Data Indicats Increased Steel Imports in US
Strategic Research Institute
Published on :
9 Jun, 2023, 6:56 am
The American Iron and Steel Institute (AISI) has published the May Steel Import Monitoring and Analysis (SIMA) data, revealing a notable increase in steel import permit applications. According to the report, permit applications for May reached 2,395,000 net tons (NT), representing a 3.6% growth compared to April's recorded permit tons of 2,311,000. Additionally, import permit tonnage for finished steel in May was 1,875,000, reflecting a 3.0% decrease from April's final imports total of 1,933,000.
When considering the first five months of 2023, encompassing May SIMA permits and April final imports, total and finished steel imports experienced a decline of 12.0% and 15.7%, respectively, compared to the same period in 2022. The estimated finished steel import market share for May stood at 21%, while the year-to-date (YTD) share reached 22%.
Among the steel products, several witnessed significant increases in import permit applications compared to April's final imports. Cut lengths plates saw a surge of 70%, followed by cold rolled sheets (54%), sheet and strip hot dipped galvanized (36%), structural pipe and tubing (28%), and hot rolled bars (28%). Year-to-date (YTD) comparisons against the same period in 2022 also revealed remarkable growth for standard rails (73%), oil country goods (46%), electrical sheet and strip (43%), line pipe (19%), and cut length plates (16%).
Regarding the countries involved in steel imports, Canada emerged as the largest supplier in May, with permit applications totaling 627,000 NT, indicating a 6% increase from April's final figures. Brazil witnessed a substantial surge of 46%, reaching 311,000 NT, while Mexico experienced a decrease of 20%, with permit applications amounting to 281,000 NT. South Korea and Japan recorded permit applications of 171,000 NT (up 2%) and 112,000 NT (down 13%), respectively. In the first five months of 2023, Canada, Mexico, and Brazil remained the primary suppliers, with varying levels of import volumes.
It's important to note that the import permits data represents tonnages requested in applications and may not precisely reflect actual import volumes. Preliminary estimates of actual import volumes for the month will be available later in June.
Net tons (NT) refer to short tons (1 short ton = 2,000 pounds).