U.S. steel imports fall 18 percent in January
Friday, February 25, 2005 7:42:24 PM
afxpress.com
SAN FRANCISCO (AFX) - The United States imported 18 percent less steel in January than in December, according to a survey released Friday by the American Institute for International Steel
"The AIIS monthly survey indicators have been suggesting somewhat of a fall-off from higher import months and these data could be the beginning of that trend," said AIIS president David Phelps
"As we approach the seasonally stronger second quarter, we expect order books to strengthen in coming months," he added
Sharply higher steel prices over the past year have been blamed by U.S. manufacturers, like the auto parts industry, for lower profit margins and higher product prices. Citing preliminary numbers, AIIS said the country imported 2.398 million net tons of steel in January, down from 2.924 million in December but up 1.7 percent from the 2.357 million imported in January 2004
Imports from European Union nations fell 43.5 percent in January to 299,000 net tons from 529,000 in December. The percentage drop from China was even steeper, falling 48.5 percent to 150,000 tons in January from 291,000 the previous month. Year-on-year, however, China's steel shipments to the U.S. were up 46.9 percent from the 102,000 tons sent across the Pacific in January 2004
At the same time, steel imports from Canada rose 18.4 percent to 430,000 tons in January from 363,000 tons in December but remained nearly flat to import levels from a year earlier
AIIS is a Washington D.C.-based trade group that aims to promote free trade in the steel industry. |
