Washington, D.C. – 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 March totaled 3,078,000 net tons (NT)*. This was an 32.0% increase from the 2,333,000 permit tons recorded in February and a 31.1% increase from the February final imports total of 2,348,000. Import permit tonnage for finished steel in March was 2,578,000, up 40.2% from the final imports total of 1,840,000 in February. For the first three months of 2022 (including March SIMA permits and February final imports), total and finished steel imports were 8,471,000 NT and 6,697,000 NT, up 27.8% and 50.1%, respectively, from the same period in 2021. The estimated finished steel import market share in March was 27% and is 25% year-to-date (YTD).

Steel imports with large increases in March permits vs. the February final imports include standard pipe (up 89%), wire rods (up 79%), structural pipe and tubing (up 67%), hot rolled sheets (up 62%) and oil country goods (up 56%). Products with significant year-to date (YTD) increases vs. the same period in 2021 include wire rods (up 145%), oil country goods (up 108%), cold rolled sheets (up 89%), standard pipe (up 67%) and sheets and strip galvanized hot dipped (up 57%).

In March, the largest steel import permit applications were for Canada (591,000 NT, up 26% from February final), Mexico (514,000 NT, up 15%), South Korea (337,000 NT, up 55%), Brazil (306,000 NT, up 16%) and Vietnam (170,000 NT, up 137%). Through the first three months of 2022, the largest suppliers were Canada (1,638,000 NT, down 5% from the same period last year), Mexico (1,531,000 NT, up 59%) and Brazil (945,000 NT, down 24%).

*Note that import permits data are counts of tonnages requested in applications for licenses to import steel products and are not actual import volumes. For a number of reasons, permit tonnages may understate or overstate actual import volumes for the month, preliminary estimates of which will be available later this month

AISI serves as the voice of the American steel industry in the public policy arena and advances the case for steel in the marketplace as the preferred material of choice. AISI’s membership is comprised of integrated and electric arc furnace steelmakers, and associate members who are suppliers to or customers of the steel industry. For more news about steel and its applications, view AISI’s website at www.steel.org. Follow AISI on Facebook, LinkedIn, Twitter (@AISISteel) or Instagram.

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