Steel Imports Slip Again in November
12/28/2007 - The U.S. imported a total of 2,280,000 net tons of steel in November 2007—an 18% decrease as compared to the final October data—according to the latest report from the American Iron and Steel Institute.
The U.S. imported a total of 2,280,000 net tons of steel in November 2007—an 18% decrease as compared to the final October data—according to the latest report from the American Iron and Steel Institute.
The report, which is based on preliminary Census Bureau data, shows that the total includes 1,922,000 net tons of finished steel, down 1% compared to final October data.
Although overall year-to-date (YTD) imports have declined vs. the all-time record year of 2006, total and finished steel imports YTD, on an annualized basis, remain 6% and 8% higher, respectively, vs. 2005, which also reached elevated import levels.
Finished steel products showing large increases in November 2007 (vs. the prior month) included:
- Oil country goods, +46%
- Finished bars–light shapes, +40%
- Hot rolled sheets, +38%
China continues to dominate imports of pipe and tube products through the first 11 months of 2007, now accounting for 33% of total imports of such products.
In November, the three largest suppliers of finished steel from offshore were all from Asia: China (309,000 net tons, a 1% increase vs. October), South Korea (176,000 net tons, a 9% increase), and Japan (106,000 net tons, a 3% decrease).
“China, a non-market economy, continues to be the number one offshore supplier of finished steel to the United States,” said AISI President and CEO Andrew G. Sharkey III, commenting on the November numbers. “Trade and market-distorting practices remain pervasive in the steel sector worldwide.
“There are strong concerns about ongoing high levels of imports in certain product categories, and the last thing steel and U.S. manufacturing in general need right now is for our existing rules against dumped and subsidized imports to be further weakened,” continued Sharkey. “This is why AISI joins with other U.S. industries in strongly opposing the WTO Doha Round Chairman’s draft text on ‘rules’ and agrees that this text is not an acceptable basis to conduct further negotiations.”
