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Total Stainless Imports Dip 4.8% in 2008 as Domestic Consumptions Sags

03/20/2009 - Total stainless imports reached 728,487 tons through the end of December 2008, a 4.8% decrease compared to YTD December 2007 as consumption of total stainless steel products dips to its lowest levels since 1992, according to the latest report from the Specialty Steel Industry of North America (SSINA).

Total stainless imports reached 728,487 tons through the end of December 2008, a 4.8% decrease compared to YTD December 2007 according to the latest report from the Specialty Steel Industry of North America (SSINA).
 
Total specialty imports (comprising stainless steel, alloy tool steel and electrical steel) reached 945,742 tons through the same period, a 3.5% decrease compared to YTD December 2007.
 
Data included in the SSINA report reflects U.S. consumption, imports, and import penetration for YTD December 2008 compared to the same 2007 twelve-month period for major specialty steel product lines, as well as for total stainless steel and total specialty steel.
 
Stainless steel sheet/strip YTD December 2008 imports were 441,313 tons, a 4.7% increase compared to YTD December 2007. U.S. consumption was 1,245,825 tons through the same period, an 18.1% decrease, while twelve-month import penetration was 35.4%, a 7.7 percentage point increase from 2007.
 
Stainless steel plate YTD December 2008 imports were 93,492 tons, a 35.4% decrease compared to YTD December 2007. U.S. consumption was 234,122 tons through the same period, a 30.0% decrease, while twelve-month import penetration was 39.9%, a 3.3 percentage point decrease from 2007.
 
Stainless steel bar YTD December 2008 imports were 120,928 tons, a 1.5% decrease compared to YTD December 2007. U.S. consumption was 227,078 tons through the same period, a 0.1% decrease, while twelve-month import penetration was 53.3% a 0.7 percentage point decrease from 2007.
 
Stainless steel rod YTD December 2008 imports were 29,889 tons, a 2.2% decrease compared to YTD December 2007. U.S. consumption was 60,780 tons through the same period, a 4.8% decrease, while twelve-month import penetration was 49.2%, a 1.3 percentage point increase from 2007.
 
Stainless steel wire YTD December 2008 imports were 42,864 tons, a 6.8% decrease compared to YTD December 2007. U.S. consumption was 74,161 tons through the same period, a 3.9% decrease, while twelve-month import penetration was 57.8%, a 1.8 percentage point decrease from 2007.
 
Through YTD December 2008, total stainless steel imports (comprising the foregoing product lines) were 728,487 tons, a 4.8% decrease compared to YTD December 2007. U.S. consumption was 1,841,966 tons through the same period, a 17.2% decrease, while twelve-month import penetration was 39.5%, a 5.1 percentage point increase from 2007.
 
Alloy tool steel YTD December 2008 imports were 96,357 tons, a 7.3% decrease compared to YTD December 2007. U.S. consumption and import penetration were not calculable.
 
Electrical steel YTD December 2008 imports were 120,898 tons, a 9.3% increase compared to YTD December 2007. U.S. consumption was 344,984 tons through the same period, a 19.7% decrease from December 2007, while twelve-month import penetration was 35.0%, a 9.3 percentage point increase from 2007.
 
Through YTD December 2008, total specialty steel imports (comprising stainless steel, alloy tool steel and electrical steel) were 945,742 tons, a 3.5% decrease compared to YTD December 2007. U.S. consumption was 2,262,832 tons through the same period, a 17.4% decrease, while twelve-month import penetration was 41.8%, a 6.0 percentage point increase from 2007.
 
“The close of 2008 was marked with the lowest consumption of total stainless steel products since 1992. Compounding that, import penetration levels of total stainless steel products continue to surge,” said Doug Kittenbrink, Chairman of SSINA. “These statistics shed light on the fact that foreign competitors are able to unfairly target our markets through currency manipulation and other subsidies. These issues need to be addressed by our government as our member companies face growing challenges.”
 
Specialty Steel Industry of North America (SSINA) is a Washington, DC-based trade association representing virtually all continental specialty metals producers. Member companies include:
 
  • ATI Allegheny Ludlum Corp., Pittsburgh, Pa., and ATI Allvac, Monroe, N.C. (both Allegheny Technologies companies)
  • Carpenter Technology Corp., Reading, Pa.
  • Crucible Specialty Metals, Syracuse, N.Y.
  • Electralloy, Oil City, Pa.
  • Latrobe Specialty Steel Co., Latrobe, Pa.
  • North American Stainless, Ghent, Ky.
  • Outokumpu Stainless, Inc., Schaumburg, Ill.
  • Precision Rolled Products, Inc., Florham Park, N.J.
  • ThyssenKrupp Mexinox SA de CV, San Luis Potosi, SLP, Mexico
  • Universal Stainless and Alloy Products, Bridgeville, Pa.
  • Valbruna Slater Stainless Inc., Fort Wayne, Ind.