AIIS: Steel imports up in April

   Steel imports rose sharply in April, though year-to-date totals are lagging compared to 2013, according to the American Institute for International Steel.
   In the United States, 3.73 million net tons of steel were imported in April, a 15-percent increase from March.
   Canada had 547,000 net tons of exports to the U.S. during the month, 13-percent more than the previous month.
   European Union countries exported 3-percent less than in March, but steel imports from Russia and China were up for the month, AIIS reported.
   Despite the increases, AIIS said, total imports from January to April — 6.93 million net tons — were down 34 percent from the same period last year.
   “The April increases may encourage more such declamations about the supposed negative effects of free trade,” AIIS said, referring to recent calls by lawmakers for protectionist actions by the Commerce Department. “Steel imports, though, play a critical role in the United States. By diversifying its sources of steel, the U.S. is able to weather disruptions in domestic production, as have occurred at some mills in recent months, without the economy feeling a major impact. In addition, the ability to import quality steel at a lower price than is available domestically keeps costs down in multiple sectors, encouraging investment and promoting consumer spending. In short, when construction and automobiles cost less, the entire U.S. economy benefits.”