Abnormally high levels of cheap imports have been blamed for the layoffs of thousands of steelworkers nationwide and the idling of facilities like East Chicago Tin.
The American Iron and Steel Institute reported steel import permit applications in July rose to 3.2 million net tons, a 6 percent increase over June applications and a 4 percent increase over the actual imports that ended up reaching U.S. ports last month. Permit tonnage for finished steel, which would not require any additional processing in the United States, rose 3 percent in July over June to 2.5 million net tons.
Total steel imports are down 0.2 percent during the first seven months of the year as compared to 2014, but finished imports are up 9 percent so far this year.
In 2014, imports captured a record 28 percent market share, according to the American Iron and Steel Institute. They've only gotten worse this year, leading to a huge drop-off in steel production in February and nationwide layoffs.
In July, imports seized 27 percent of U.S. market share. They've gobbled up 31 percent of the market share year-to-date.
South Korea accounted for the most steel import permit applications in July, or about 298,000 net tons. Turkey, China, Japan and Germany followed as the next biggest importers last month.
So far this year, South Korea, Turkey and China are the biggest importers. South Korean imports are up 6 percent as compared to 2014, while Turkish imports have shot up by 73 percent.
In July, rail imports skyrocketed by 345 percent, while reinforcing bars shot up by 137 percent. Steel products that have posted double-digit gains in the first seven months this year include line pipe, reinforcing bars, standard pipe, hot-dipped galvanized sheets and strip, tin plate, plates in coils, heavy structural shapes, cold rolled sheets and cut length plates.
