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Year-to-Date Steel Imports Continue to Surpass 2004 Track

07/27/2005 - The United States imported a total of 2,565,000 net tons of steel in June according to the latest report from the American Iron and Steel Institute (AISI), which is based on preliminary Census Bureau data. The total included 2,072,000 net tons of finished steel.

The United States imported a total of 2,565,000 net tons of steel in June according to the latest report from the American Iron and Steel Institute (AISI), which is based on preliminary Census Bureau data. The total included 2,072,000 net tons of finished steel.

While total and finished steel imports were down 3.0 and 5.1 percent, respectively, compared to May 2005, several key products were up in June, including:

  • Galvanized (electrolytic) Sheet & Strip, +75%
  • Plates in Coils, +37%
  • Tinplate, +23%
  • Heavy Structural Shapes, +17%
  • Hot Rolled Sheets, +12%

Year-to-date (YTD) total and finished imports compared to 2004 remain 7.0% and 8.3% higher, respectively. Key products lines that have registered significant increases include

  • Sheet & Strip, All Other Metallic Coated, +75%
  • Oil Country Tubular Goods, +60%
  • Tinplate, +59%
  • Cut-to-Length Plates, +52%
  • Cold Finished Bars, +52%
  • Plate in Coil, +46%
  • Structural Pipe & Tubing, +26%
  • Mechanical Tubing, +23%
  • Hot Dip Galvanized Sheet & Strip, +21%
  • Cold-Rolled Sheet, +17%

YTD 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. This includes China (+167%), Malaysia (+167%), Ukraine (+130%), Taiwan (+86%), Russia (+34%) and Brazil (+33%).

U.S. spot prices for hot and cold-rolled sheet in June declined for the ninth month in a row, according to data publicly reported by Purchasing Magazine. The price declines for these products were 34.5 and 27.5 percent, respectively, over the period from September 2004 to June 2005.

"With imports at high levels and government-supported capacity growth on the increase, American steel producers still need effective enforcement of our trade remedy laws," said John P. Surma, President and CEO of United States Steel Corp. and Chairman of AISI. "Unfortunately, opponents of rules-based trade are pushing to seriously weaken these very laws in the ongoing WTO negotiations. Over the next few months, the United States will come under increasing pressure to agree to such proposals. This would be a terrible mistake."