Jun 29 2005
Based on preliminary Census Bureau data, the American Iron and Steel Institute (AISI) has reported that the United States imported a total of 2,609,000 net tons (NT) of steel in May, including 2,149,000 NT of finished steel. While imports in these categories were down 15.3 and 11.4 percent, respectively, compared to April 2005,1 several key products were up significantly, including reinforcing bars (up 44 percent), wire rod (up 30 percent), bars-light shapes (up 23 percent), plates-cut to length (up 11 percent) and line pipe (up 11 percent).
Year-to-date (YTD) total and finished imports compared to 2004 are up 15.1 and 16.3 percent, respectively, and finished imports have risen significantly in several key product categories. Comparing YTD data for ‘05 versus ‘04, large increases occurred in sheet & strip, all other metallic coated (up 104 percent), plate in coil (up 67 percent), tin plate (up 64 percent), plates-cut to length (up 62 percent), oil country tubular goods (up 59 percent), bars-cold finished (up 56 percent), cold-rolled sheet (up 42 percent), galvanized (hot-dipped) sheet & strip (up 41 percent), structural pipe & tubing (up 31 percent) and hot-rolled sheet (up 16 percent). 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. Notable increases include China (up 232 percent), Malaysia (up 192 percent), the Ukraine (up 190 percent), Taiwan (up 151 percent), Russia (up 85 percent) and Brazil (up 62 percent).
U.S. spot prices for hot and cold-rolled sheet in May declined for the eighth month in a row, according to data publicly reported by Purchasing Magazine. The September 2004-May 2005 price declines for these products were 29.2 and 22.6 percent, respectively.
"With continuing high levels of imports and significant challenges in the marketplace, the industry was pleased to see the announcement of a North American Steel Strategy as part of the Security and Prosperity Partnership initiative launched by President Bush, Canadian Prime Minister Paul Martin and Mexican President Vincente Fox," said John P. Surma, President and CEO of United States Steel Corporation and Chairman of AISI. "A critical part of this strategy must be strong and effective enforcement of the laws against unfair trade, and an absolute commitment to preserving those laws in ongoing trade talks. We look forward to working closely with North American governments in that regard in the months ahead."
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