June 1, 2006 — The United States imported a total of 3,573,000 net tons of steel in April 2006, according to the latest report from the American Iron and Steel Institute (AISI). The AISI report, which is based on preliminary Census Bureau data, shows that total imports include 2,959,500 net tons of finished steel, a 22% increase compared to April 2005.

Year-to-date (YTD) imports in these categories climbed 29% and 27%, respectively, compared to YTD imports for the same period in 2005.

For a three-month rolling average (the most recent three month period compared to the previous three month period), the trend shows that finished steel imports overall are up 31%, with notable increases in:

• Black plate (+177%)
• Galvanized electrolytic sheets and strip (+104%)
• Reinforcing bars (+97%)
• Structural shapes (+80%)
• Cold rolled sheets (+69%)
• Tin plate (+29%)
• Hot rolled sheets (+28%)

The trend is especially pronounced for certain countries with a history of unfair trading, e.g., Taiwan (+135%), Turkey (+108%), China (+38%), Brazil (+45%) and Japan (+21%). On an annualized basis (based on YTD 2006 imports), total steel imports would be 44.4 million net tons, which would set an all-time record.

Key products with large increases in April compared to the month before include

• Black plate (+110%)
• Tin plate (+49%)
• Bars – light shapes (+33%)
• Cold finished bars (+32%)
• Plates in coils (+31%)
• Pressure tubing (+26%)

Products with sizable year-to-date increases (compared to YTD 2005) include

• Reinforcing bars (+139%)
• Heavy structural shapes (+92%)
• Bars – light shapes (+51%)
• Cold rolled sheets (+45%)
• Cut-to-length plates (+39%)
• Oil country goods (+36%)
• Galvanized hot dipped sheets & strip (+30%)
• Hot rolled sheets (+28%)

“The U.S. steel industry is one of America’s strategic assets and, as such, we need to remain vigilant against unfair and disruptive trade that is damaging to producers and can hinder the progress of a highly competitive industry that is essential to the nation’s manufacturing base,” said AISI Chairman Louis L. Schorsch, who is also President and CEO of Mittal Steel USA. “We will continue to monitor import flow closely, particularly as we see year-to-date imports from China up 67% over last year, and up 48% for the entire Asia region. This is why it is necessary for our government to defend, enhance and enforce our vital trade remedy laws.”

“America cannot afford to allow unfairly-traded steel, built and supported with massive government subsidies and in some cases the beneficiary of currency manipulation, to enter this market and undermine its world-class, globally-competitive steel industry,” said Andrew G. Sharkey III, President and CEO of AISI. “Given the growing challenges faced by U.S. manufacturers from increased imports and foreign unfair trade practices, we must effectively address market-distorting practices in China and elsewhere, and, most importantly, ensure that U.S. trade laws are not weakened in ongoing international negotiations."