Steel Imports Decline in March

Based on preliminary Census Bureau data, the American Iron and Steel Institute reported that the United States imported a total of 2,034,000 net tons of steel in March, down 39.4 percent from February, including 1,564,000 NT of finished steel, down 30.3 percent from February.

Year-to-date total and finished steel imports are 8,079,000 NT and 5,794,000 NT (up 17.8 and 7.2 percent, respectively, from YTD 2001). Many steel products registered significant YTD increases, e.g., semifinished steel (up 57 percent), plates - cut length (up 54 percent), hot dipped galvanized sheet & strip (up 51 percent), tin plate (up 46 percent), line pipe (up 38 percent), rebar (up 25 percent), wire rod (up 16 percent) and several other long products including bars - light shapes (up 19 percent) and hot rolled bars (up 14 percent).

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In March, average import customs values remained below the values at the depth of the 1998 steel crisis. Notwithstanding the partial price restoration in flat rolled products, the U.S. prices of hot- and cold-rolled sheet in March were still down 23.5 and 15.9 percent, respectively, since May 2000, according to Purchasing Magazine.

Andrew G. Sharkey, III, AISI president and CEO, stated that: "The first quarter imports data underscore the need to avoid unwarranted product exclusions that would undermine the President's 201 remedy. This remedy was fully justified and the process of restoring America's steel industry to health is just getting started. Domestic steel producers will be flexible in not opposing exclusion requests where the product is not made in the United States and where U.S. steel producers have no intention to make the product. However, many exclusion requests are an attempt to evade and undermine the President's remedy.”