Steel Imports Substantially Higher Through First Four Months
05/26/2004 - Based on preliminary Census Bureau data, the American Iron and Steel Institute (AISI) reported that April imports of steel into the United States were 0.3% higher than March, with finished steel imports up 5.7% compared to March. Year-to-date total and finished steel imports are up 11.1 and 9.7 percent, respectively, compared to the same period last year.
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Based on preliminary Census Bureau data, the American Iron and Steel Institute (AISI) reported that April imports of steel into the United States were 0.3% higher than March, with finished steel imports up 5.7% compared to March. Year-to-date total and finished steel imports are up 11.1 and 9.7 percent, respectively, compared to the same period last year.
Products with large increases in April over the previous month include
- Plate in coils, +125%.
- Concrete reinforcing bars and rods, +106%.
- Oil country goods, +49%.
- Standard pipe, +46%.
- Cold finished bars, +22%.
Products with substantial increases in YTD 2004 vs. 2003 include
- Rebar, +79%.
- Wire rods, +61%.
- OCTG, +59%.
- Bars–light shapes, +38%.
- Drawn and/or rolled wire, +30%.
- Structural shapes 3-inch and over, +27%.
- Hot rolled bars, +19%.
- Semifinished steel, used in significant quantity by converters, +17%.
“Increased steel imports are not simply the result of an improving economy,” stated David S. Sutherland, Ipsco President and CEO and Chairman of AISI. “At a meeting of North American steel producers and government officials in Ottawa last week, a united Nafta steel industry expressed support for continued and improved steel import monitoring. There is growing concern about the potential for adverse impacts of an enormous buildup of subsidized steel capacity offshore, a slowing of the Chinese steel market and the scheduled termination of the U.S.-Russia Comprehensive Steel Agreement. All interested parties, including highly competitive steel producers and our customers in North America would benefit from timely, detailed and accurate steel import data.”
Andrew G. Sharkey III, AISI President and CEO, added that, “Short-term market conditions do not obscure the long-term need of the United States for an enhanced steel import monitoring system. We once again call upon the Administration to meet its commitment — now long overdue — to implement this vital program, and will be urging Members of Congress to work with the Administration and take other steps to ensure that this is done in a timely manner.”
