MARKETPLACE

February Imports Down 8% Versus January
Washington, D.C. – Based on preliminary Census Bureau data, the American Iron and Steel Institute (AISI) reported today that the U.S. imported a total of 2,458,000 net tons (NT) of steel in February 2008, including 1,905,000 NT of finished steel (down 8 and 14 percent, respectively, vs. January final data). Total and finished steel imports on an annualized basis are down 8 and 7 percent, respectively, vs. 2007. On an annualized basis, total imports of steel in 2008 would be 30.7 million NT.

For the first two months of 2008, products showing increases vs. the same period in 2007 were Line Pipe (up 59%), Heavy Structural Shapes (up 19%), Hot Rolled Sheet (up 9%) and Oil Country Goods (up 6%).

For February, the largest volume of finished steel imports from offshore was from China (at 235,000 NT, down 14% from January). Other notable offshore suppliers were South Korea (151,000 NT, down 35%), Japan (88,000 NT, down 29%), Germany (88,000 NT, up 2%) and India (83,000 NT, down 19%). Below is a summary chart of finished imports by country.

AISI serves as the voice of the North American steel industry in the public policy arena and advances the case for steel in the marketplace as the preferred material of choice. AISI also plays a lead role in the development and application of new steels and steelmaking technology. AISI is comprised of 31 member companies, including integrated and electric furnace steelmakers, and 130 associate and affiliate members who are suppliers to or customers of the steel industry. AISI's member companies represent approximately 75 percent of both U.S. and North American steel capacity. For more news about steel and its applications, view AISI’s Web site at www.steel.org.

Source: American Iron and Steel Institute, March 25, 2008