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Steel Imports Rise Sharply in March

05/03/2005 - The United States imported a total of 2,519,000 net tons of steel in March according to the American Iron and Steel Institute (AISI), a 2% increase over the previous month’s totals. The AISI report, which is based on preliminary Census Bureau data, shows the import totals include 2,013,000 net tons of finished steel — 10.2% more than the previous month.

The United States imported a total of 2,519,000 net tons of steel in March according to the American Iron and Steel Institute (AISI), a 2% increase over the previous month’s totals. The AISI report, which is based on preliminary Census Bureau data, shows the import totals include 2,013,000 net tons of finished steel — 10.2% more than the previous month.

Several key product areas have exhibited significantly increased imports over the previous month, including:

  • Plates in coils, +56%.
  • Tinplate, +49%.
  • Hot rolled sheet, +27%.
  • Galvanized (hot-dipped) sheet & strip, +18%.
  • Cold rolled sheet, +17%.

Year-to-date (YTD) total and finished imports have also experienced an alarmingly brisk increase — 19.9% and 19.7%, respectively — compared to 2004. YTD imports are up significantly in a number of key finished product categories, including a 35% increase in hot rolled sheet imports (comparing YTD 2005 data to YTD 2004). Other substantial increases include:

  • Plates in coil, +133% YTD.
  • Sheet & strip (all other metallic coated), +116% YTD.
  • Tinplate, +103% YTD.
  • Cold rolled sheet, +87% YTD.
  • Galvanized (hot-dipped) sheet & strip, +76% YTD.
  • Cold finished bar, +47% YTD.
  • Oil country goods, +41% YTD.
  • Structural pipe & tubing, +35% YTD.

U.S. spot prices for hot and cold-rolled sheet in March declined for the sixth month in a row, according to public data reported by Purchasing Magazine. The September 2004–March 2005 price declines for these products were 20.0% and 13.5%, respectively.

"Imports have continued to come in at high levels, at a time when we have seen declining spot prices in the market," said AISI Chairman John P. Surma, who is President and CEO of United States Steel Corp. "The recent decision by the International Trade Commission to retain duties on hot-rolled steel imports only reinforces the continuing threat posed by unfair trade as the industry attempts to build upon the progress it has made."

"As the WTO trade talks progress, the industry has no higher priority than ensuring that the United States maintain and enforce strong disciplines against unfair trade," said Surma. "This is an issue that is critical not just to steel, but to the entire manufacturing base."