According to the latest Steel Import Monitoring and Analysis (SIMA) data from the Commerce Department, the American Iron and Steel Institute (AISI) announced today that steel import permit applications in October reached 2,123,000 net tons (NT)*. This marked an 8.5% decrease from September’s 2,319,000 permit tons and a 3.0% decrease from the final imports total of 2,189,000 in September.
The import permit tonnage for finished steel in October saw a notable increase, reaching 1,757,000, reflecting an 11.2% rise from the final imports total of 1,580,000 in September. Examining the cumulative data for the first ten months of 2023, including October SIMA permits and September final imports, total steel imports were 23,969,000 NT, experiencing a 10.0% decline compared to the same period in 2022. Finished steel imports for the same period totaled 18,485,000 NT, reflecting a 14.6% decrease.
The estimated market share for finished steel imports in October stood at 19%, contributing to a year-to-date (YTD) figure of 22%. This suggests a challenging landscape with a decline in both total and finished steel imports compared to the corresponding period in the previous year.