The United States imported a total of 2,195,000 net tons of steel in September, according to the latest report by the American Iron and Steel Institute (AISI), which is based on preliminary Census Bureau data. The total included 1,762,000 tons of finished steel.

Total imports were 5.2% lower than the previous month (August 2005), while finished imports were 7.7% lower compared to the same period. Individual products showing significant increases in September included:

• Plates in coil, +44%
• Hot rolled sheets, +30%
• Galvanized electrolytic sheet & strip, +29%
• Cut-to-length plates, +28%

Although year-to-date (YTD) total and finished imports are 7.9% lower than the comparable YTD 2004 period, they remain 14% above pre-1998 import surge levels. Key products exhibiting large YTD increases include:

• Oil country goods, +55%
• Galvanized electrolytic sheet & strip, +45%
• Cold finished bars, +43%
• Tin plate, +32%
• All other metallic coated sheet & strip, +23%

YTD finished imports are also up substantially from non-market economies and countries that historically subsidize their steel industries and intervene in steel, raw material and currency markets. For example, imports from Malaysia are up 58% and imports from China are up 53%, while imports from Thailand are up 43%, imports from Ukraine are up 26%, imports from South Korea are up 13%, and imports from Japan are up 10%.

U.S. spot prices for hot- and cold-rolled sheet in September rose 15% and 12%, respectively, after declining the previous eleven months in a row, according to data publicly reported by Purchasing Magazine. Prices have declined a total of 34% for hot rolled sheet and 26% for cold rolled sheet over the period from September 2004 to September 2005.

"Imports continue at a steady pace," said AISI Chairman John P. Surma, President and CEO of United States Steel Corp., “but with increasing evidence of state-supported excess capacity overseas, we are closely monitoring the influx of imports in individual categories and from countries that have historically interfered with market forces through subsidies, currency interventions and other unfair trade practices.”