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Steel Imports Down Slightly in February

March 31, 2004 — Based on preliminary Census Bureau data, the American Iron and Steel Institute (AISI) reported that February imports of steel into the United States were 17.7% lower than January, with finished imports down 10.4% compared to January.

From a historical perspective, total February imports are 15.8% higher than in February of 2003, with finished steel imports 10.4% higher than in February 2003. Total year-to-date imports are 2.8% higher than 2003 YTD imports.

Steel products registering large increases compared to last month (January 2004) included:

• Structural shapes, +60%
• Concrete reinforcing bars and rods, +22%
• Mechanical tubing, +13%
• Hot dipped sheet and strip, +10%

“With imports this month higher than in the same month last year, we continue to have serious concern about the delay in implementing the Administration's new steel import licensing program,” AISI Chairman David S. Sutherland, President and CEO of Ipsco, said. “At the time of the President’s decision to terminate the Section 201 import duties last December, the Administration committed to expanding the steel licensing and monitoring system to cover additional steel products and to extend the program indefinitely. This has not been accomplished to date. With the impact of China’s huge expansion in steelmaking, and significant volatility in the global steel sector, putting the monitoring system in place is increasingly urgent to provide both government and industry with the most timely data possible,” Sutherland said.

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