The United States imported a total of 2,361,000 net tons of steel in February according to the American Iron and Steel Institute (AISI). The AISI report, which is based on preliminary Census Bureau data, shows the import totals include 1,727,000 net tons of finished steel.

Although February imports reflect declines of 18% (total imports) and 20.2% (finished steel imports) compared to January 2005, year-to-date (YTD) total and finished imports are up 21.4% and 19.7%, respectively, compared to YTD 2004.

YTD imports are already significantly above last year’s YTD totals for a number of key finished product categories. Comparing YTD data for 2005 versus 2004, imports of hot rolled sheet, for example, have increased by 36%. Other substantial increases include:

• Galvanized (hot-dipped) sheet & strip, +124%
• Plates in coil, +100%
• Sheet & strip – all other metallic coated, +100%
• Cold rolled sheet, +90%
• Tin plate, +63%
• Structural pipe & tubing, +45%
• Oil country goods, +44%
• Cold finished bar, +39%

Meanwhile, U.S. spot prices for hot and cold-rolled sheet in February declined for the fifth month in a row, according to public data reported by Purchasing Magazine. Prices for these products declined 17.7% and 12.2%, respectively, over the September 2004 to February 2005 time period.

"Enforcing our trade laws is more critical now than ever," comments AISI Chairman John P. Surma, President and CEO of United States Steel Corp. "This industry needs a market environment, free from the effects of unfair trade, if it is going to truly recover, make up for foregone investments, and see the current revitalization take hold."

"The President's decision to continue the steel import monitoring program was both timely and appropriate," Surma concluded. "Having accurate and up-to-date data regarding imports will benefit all market participants, and is particularly important given continued high import levels and significant announced capacity expansion projects abroad."