Based on preliminary Census Bureau data for December, the American Iron and Steel Institute (AISI) reported that the United States imported a total of 35,662,000 net tons of steel in 2004, reflecting a 54.2% increase over 2003 total steel imports.

Total imports included 28,304,000 net tons of finished steel, a 54.6% increase over 2003 imports of finished steel.

December 2004 steel imports totaled 2,778,000 net tons, 62.7% higher than in December 2003. The December 2004 total includes 2,314,000 net tons of finished steel imports, 77.3% more than in December 2003. The 2004 percentage gain for finished steel imports was more than three times the 15.9 percent increase in steel consumption. As a result, finished steel import market share rose from 16.0 to 21.2%.

Compared to the year before, imports in 2004 were at substantially higher levels in almost all major product lines, including hot-rolled sheet (up 83%). U.S. spot prices for hot and cold-rolled sheet in December went down for the third month in a row, according to public data reported by Purchasing Magazine. The September–December price declines for these products were 12.7% and 7.3%, respectively.

“Imports in 2004 were up dramatically, and there is sufficient availability of steel in the U.S. market," stated John P. Surma, President and CEO of the United States Steel Corp. and Chairman of AISI. "The industry has taken a lot of positive steps as market conditions have improved, but much remains to be done to complete needed investments and keep the momentum going.

"Above all, as we stressed repeatedly at the recent OECD international steel conference, it is critical that market forces dictate market outcomes. That means ensuring that governments not go down the road of state-supported steel capacity and that we have strict enforcement of our fair trade laws,” Surma concluded.