Davis Index: Market Intelligence for the Global Metals and Recycled Materials Markets

US steel import permit applications decreased by 48.4pc to 1.4mn nt in August from the previous month’s final imports of 2.7mn nt, according to the American Iron and Steel Institute (AISI). 


July’s steel permit tons fell short by 26pc at 2mn nt against the actual final steel imports of 2.7mn nt led by elevated semi-finished steel imports AISI noted, citing Steel Import Monitoring and Analysis (SIMA) data.


Finished steel import permits in August decreased by 10.8pc to 1.2mn nt from 1.4mn nt in final July imports. 


Total and finished steel imports were 16.5mn nt and 11.3mn nt for the first eight months in 2020. Compared to the same eight-month period in 2019, total steel imports decreased by 20.3pc with finished steel encountering steeper declines of 26.6pc.


Against the final finished steel import data from July, materials with large increases in August import permits included 139pc for sheets and strip electrolytic galvanized, 64pc for steel piling, 33pc for line pipe, and 37pc for cut lengths plates.  


The largest finished steel import permit applications in August were from South Korea for 167,000nt, up by 5pc, Japan for 71,000nt, a 41pc increase from July, Germany for 49,000nt a rise of 5pc, Taiwan for 45,000nt, up by 20pc, and China for 31,000nt, a decline of 52pc compared to the previous month.  


Year-to-date, including August preliminary permits, the largest import sources for US finished steel are South Korea, Japan, and Germany. However, South Korea’s imports decreased by 24pc to 1.1mn nt, Japan decreased by 41pc to 555,000nt, and Germany decreased by 39pc to 472,000nt.


Finished steel import market share in August was 18pc and 19pc for the first eight-month period in 2020.

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