Jul 29 2005
Based on preliminary Census Bureau data, the American Iron and Steel Institute (AISI) reported today that the United States imported a total of 2,565,000 net tons (NT) of steel in June, including 2,072,000 NT of finished steel. While imports in these categories were down 3.0 and 5.1 percent, respectively, compared to May 2005,1 several key products were up in June, including galvanized (electrolytic) sheet & strip (up 75 percent), plates in coils (up 37 percent), tin plate (up 23 percent), heavy structural shapes (up 17 percent) and hot rolled sheets (up 12 percent).
Year-to-date (YTD) total and finished imports compared to 2004 remain 7.0 and 8.3 percent higher, respectively. Key products lines that have registered significant increases include sheet & strip, all other metallic coated (up 75 percent), oil country tubular goods (up 60 percent), tin plate (up 59 percent), plates-cut to length (up 52 percent), bars-cold finished (up 52 percent), plate in coil (up 46 percent), structural pipe & tubing (up 26 percent), mechanical tubing (up 23 percent), galvanized (hot-dipped) sheet & strip (up 21 percent) and cold-rolled sheet (up 17 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. This includes China (up 167 percent), Malaysia (up 167 percent), Ukraine (up 130 percent), Taiwan (up 86 percent), Russia (up 34 percent) and Brazil (up 33 percent).
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 September 2004-June 2005 price declines for these products were 34.5 and 27.5 percent, respectively.
"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 Corporation 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."
Read full analyisis at www.steel.org