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

The permits for finished steel and overall steel imports in February decreased compared with the previous month, according to the American Iron and Steel Institute (AISI).


Citing figures from the latest Steel Import Monitoring and Analysis (SIMA) data released by the US Department of Commerce, AISI indicated that total steel import permits in February totaled 1.95mn nt (1.76mn mt), down 12.3pc from 2.22mn nt worth of permits in the previous month and down 19.7pc from January’s preliminary imports.


Finished steel permits increased by 11.9pc in February to 1.39mn nt compared with preliminary steel imports of 1.24mn nt in January.


From January-February, AISI indicated, the total steel imports dropped by 6.3pc to 4.37mn nt compared with the same period in 2020, while finished steel imports dropped 12.4pc to 2.63mn nt during the same timeframe.


The most sought after finished steel imports in February, compared with the previous month include tin plate, up 213pc; sheets and strip electrolytic galvanized, up 151pc; cold rolled sheets, 71pc; tin-free steel, 55pc; hot rolled sheets, 43pc; cut lengths plates, 34pc; line pipe, 30pc; mechanical tubing, 19pc; and wire rods, up 15pc.


Compared with January-February 2020, tin plate imports rose by 22pc; steel piling, up 81pc; and sheets and strip electrolytic galvanized, increased by 69pc in the same period this year.


In February, South Korea continues to be the most sought-after destination for steel imports, up 64pc to 216,000nt compared with January, followed by Japan up 97pc at 91,000nt; Germany up 251pc at 82,000nt; Turkey down 6pc to 77,000nt; and The Netherlands up 841pc to 38,000nt. 


South Korea also remains the largest offshore steel provider for the first two months of 2021, with shipments from this destination totaling 347,000nt, up 2pc; followed by Japan at 137,000nt, down 6pc; and Turkey up 28pc to 158,000nt, all compared with the first two months of 2020.

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