AISI: U.S. Steel Import Permits Rise in November 2025

U.S. steel import permit applications increased in November even as finished steel volumes declined, signaling uneven trade flows as domestic producers and buyers adjust to softer demand and ongoing trade controls, based on Steel Import Monitoring and Analysis data released by the American Iron and Steel Institute.

Permit applications totaled about 1.68 million net tons in November, up roughly 4.5% from October permits but below the prior month’s final import tally, AISI said in its latest reporting using Commerce Department SIMA data. Finished steel permits fell sharply to about 1.13 million net tons, pushing the estimated finished import market share to 14% for the month, a level analysts say reflects continued restraint in downstream consumption.

Steel import volumes have trended lower through much of 2025 as higher interest rates, slowing construction activity, and persistent trade remedies dampen demand for foreign material. The United States has relied on SIMA permits as an early indicator of import activity since the program was expanded during the last decade, particularly following the introduction of Section 232 measures, which reshaped sourcing patterns and supplier strategies.

For the first eleven months of 2025, total steel imports reached approximately 23.7 million net tons, while finished steel imports were about 17.6 million net tons, both posting double-digit declines from the same period a year earlier, AISI data show. Observers note that the year-to-date finished import share of 19% remains well below pre-pandemic levels, reflecting the combined impact of trade restrictions and softer domestic demand.

November permit data showed notable month-to-month gains in several product categories, including heavy structural shapes, tin-free steel, and semi-finished products such as blooms and slabs. Line pipe and cut-to-length plate also recorded increases, suggesting selective restocking in energy and infrastructure-related segments. On a year-to-date basis, stainless pipe and tube, tin plate, and oil country tubular goods continued to outpace last year’s import levels, reflecting niche demand even as overall volumes contract.

Brazil and Canada remained the top sources of steel permit applications in November, though both posted declines from October’s final import figures. South Korea recorded a sizable month-over-month increase, while Mexico and Japan also shipped higher volumes. Through November, Canada, Brazil, and Mexico were the largest suppliers overall, despite steep year-on-year reductions in tonnage.

Industry groups argue that the latest figures support the case that domestic mills are still supplying the bulk of U.S. demand, while imports fluctuate in response to short-term price signals and sector-specific needs. Some analysts caution, however, that rising semi-finished imports could indicate cost pressures for U.S. producers reliant on slab.

Market participants expect import levels to remain volatile into early 2026 as buyers weigh domestic price movements against global supply conditions and as policymakers continue to scrutinize trade flows through existing monitoring and enforcement mechanisms.

Source: AISI

SUNSHINE Spotlight: November data show U.S. steel imports edging higher overall but losing ground in finished products, highlighting a market still shaped by cautious demand and entrenched trade barriers.