Steel Imports Drop 23 Percent

Thursday, Jul 02, 2009

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 June totaled 810,000 net tons (NT).  This was a 23% decrease from the 1,055,000 permit tons recorded in May 2009 and a 21% decrease from the May preliminary imports total of 1,020,000 NT.  Import permit tonnage for finished steel in June was 781,000 NT, a decrease of 22% from the preliminary imports total of 1,002,000 NT in May and the lowest such monthly import figure since 1975.  June 2009 total and finished steel import permit tons would annualize at 17,112,000 NT and 16,026,000 NT, down 46% and 38%, respectively, from the 31,927,000 NT and 25,956,000 NT imported in 2008. 

Source: AISI