By , 2008-03-08 04:46:13
Based on the Commerce Department's most recent Steel Import Monitoring and Analysis data, the American Iron and Steel Institute reported that steel import permit applications for the month of October 2007 totaled 2,616,000 net tons. This was a 8% increase from the 2,433,000 permit tons recorded in September 2007, a 19% increase from the September preliminary imports total of 2,196,000 net tons and 2% lower than the 2005 monthly average.
Import permit tonnage for finished steel in October 2007 was 1,844,000 net tons, 2% below the preliminary imports of 1,876,000 net tons in September. YTD finished steel imports in 2007 remain 8% higher than the same period in 2005.
For October 2007, the largest volumes of steel import permit applications for countries outside of North America were China 304,000 net tons, Brazil at 308,000 net tons and Korea at 146,000 net tons.
Finished steel import permit applications for Chinese steel 304,000 net tons were down 16% in October compared to the preliminary imports total for September. This tonnage for China, while below the monthly totals in mid 2007 and the 2006 record amounts that occurred in the second half of last year, was 58% higher than the 2005 monthly average of 192,000 net tons for China.
Mr Andrew G Sharkey III president & CEO of AISI said that "High levels of tubular imports and significant import tonnages in other long and flat rolled categories are a reminder that dumped and subsidized imports and import injury can occur in specific product categories. Therefore, domestic steel producers will continue to stay remain vigilant in closely monitoring import levels."
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