Jun 6 2005
American Institute for International Steel President David Phelps issued the following statement in response to the preliminary steel import data released by the U.S. Department of Commerce:
Based on preliminary reporting, steel imports were 2.4 million net tons in January. This is a reduction of 18% in January compared to final import data for December. With non-NAFTA imports in January reflecting market conditions 3-5 months earlier, January data could be indicative of the beginning of the inventory adjustment period late last fall. However, given that the data for January had to be compiled essentially in one less week than normal to meet the government’s preliminary reporting requirements, it is possible that revisions could increase the data more significantly than in other months.
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. As we approach the seasonally stronger second quarter, we expect order books to strengthen in coming months.
Total steel imports in January 2005 were 2.4 million tons compared to 2.92 million tons in December 2004 - an 18% decrease and a 1.7% increase compared to January 2004. According to year-to-date figures for one month, imports increased 1.7% compared to 2004, or from 2.36 million tons in 2004 to 2.4 million tons in 2005.
The data show that semifinished imported products decreased to 0.63 million tons in January 2005 as compared to 0.65 million tons in January 2004; or 3.1%.
http://www.aiis.org/