Specialty Steel Industry Releases Latest Statistical Data

The Specialty Steel Industry of North America (SSINA), Washington, released the most current statistical data for the industry today. According to SSINA, the total specialty steel import penetration for January/February 2002 increased to 28 percent, an increase of one percentage point from the same 2001 period. Imports for the industry’s largest product line stainless steel captured 26 percent of the U.S. market, which is unchanged from last year. By product line, import penetration ranged from 18 percent for stainless steel sheet/strip to 90 percent for tool steel.

Specialty steel imports for January/February 2002 vs. the same 2001 period increased 3 percent to 130,282 from 126,714 tons. Similarly, stainless steel imports rose to 93,624 from 91,392 tons, an increase of 2 percent.

Comparing year-to-date February 2002 with year-to-date February 2001 by product line, imports ranged from a 22 percent decrease for tool steel to a 40 percent increase for stainless steel rod. Stainless steel rod, wire and bar are included in the Bush Administration's Section 201 action that imposed tariffs on some steel imports. Stainless steel rod imports captured 89 percent of the U.S. market in year-to-date February 2002, an increase of 6 percentage points from the same 2001 two-month period.

Stainless steel wire imports increased 6 percent in the first two months of this year compared to the same period last year, while stainless steel bar imports decreased 15 percent. Two-month import penetration, however, increased for each product. Stainless steel wire increased 12 percentage points to 56 percent; stainless steel bar increased one percentage point to 46 percent.

According to SSINA Chairman H.L. Kephart, "The industry continues to closely monitor all imports -- particularly those subject to Section 201 tariffs and antidumping and/or countervailing duties -- to ensure compliance with unfair trade laws. The Section 201 tariffs went into effect on March 20. Their initial impact should be reflected in second quarter data. In the meantime, we continue to work closely with U.S. Customs to identify potential schemes designed to circumvent antidumping duties and the Section 201 program."

SSINA is a trade association representing virtually all continental specialty steel producers. Specialty steels are high technology, high value stainless and other specialty alloy products. While shipments of specialty steel account for only 2 percent of all steel shipped in North America, annual revenues of approximately $8 billion account for 14 percent of the total value of all steel shipped.

(Specialty Steel Statistics)

For detailed statistics, contact Meg Mullery of the SSINA at 202-342-8439 or mmullery@colliershannon.com.