The United States imported a total of 2,235,000 net tons of steel in August, according to the latest report by the American Iron and Steel Institute (AISI), which is based on preliminary Census Bureau data. The total included 1,871,000 tons of finished steel.

Although total steel imports and finished steel imports were 12.4% and 3.8% lower, respectively, compared to the previous month (July 2005), a number of product categories showed significant increases in August, including:

• Galvanized hot-dipped sheet and strip, +40%
• Tin plate, +25%
• Cold rolled sheet, +11%
• Oil country goods, +42%
• Standard pipe, +40%
• Structural pipe & tubing, +21%

Year-to-date (YTD) total and finished imports continue at a healthy pace, down 3.1% and 3.33%, respectively, compared to 2004. Key products with large YTD increases increase:

• Cold finished bars, +44%
• Galvanized electrolytic sheet & strip, +39%
• All other metallic coated sheet & strip, +37%
• Tin plate, +32%
• Cut-to-length plates, +22%
• Oil country goods, +65%
• Mechanical tubing, +18%
• Line pipe, +17%
• Structural pipe & tubing, +14%

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, including:

• Malaysia, +100%
• China, +81%
• Thailand, +37%
• Brazil, +19%
• Japan, +17%
• South Korea, +14%
• Ukraine, +14%

U.S. spot prices for hot- and cold-rolled sheet declined in August — the eleventh consecutive month of declining prices — according to data publicly reported by Purchasing Magazine. Prices for these products declined 42.5% and 34.3%, respectively, over the period from September 2004 to August 2005.

"Steel remains in good supply in this market, imports continue at a brisk pace and imports in certain product areas have shown significant growth," said John P. Surma, President and CEO of United States Steel Corp. and Chairman of AISI. "Our industry is actively engaged in efforts to assist in the rebuilding projects now underway on the Gulf Coast, and is well positioned to help see that the damage is not only repaired, but also that the infrastructure in the region is built back stronger than before."