Commerce adds clarity to monitoring steel trade

The U.S. Commerce Department will provide a new series of reports offering details into current steel trade flows from the world’s top importing and exporting countries.    The U.S. Commerce Department will provide a new series of reports offering details into current steel trade flows from the world’s top importing and exporting countries.
   The initial release from Commerce’s International Trade Administration (ITA) is comprised of 20 country-specific reports and a global summary that provides U.S. companies with updated market information. Full implementation of the new Global Steel Trade Monitor is expected by next year.
   “The Global Steel [Trade] Monitor significantly enhances the scope of the department’s monitoring and analysis of the steel sector, and confirms our commitment to provide the public with relevant trade data in this key industry,” said Paul Piquado, Commerce’s assistant secretary for enforcement and compliance, in a statement.
   In the next several weeks, Commerce plans to release another group of reports covering the 10 next-largest steel-importing and exporting countries. Commerce’s goal is for the reports to be updated quarterly to reflect the latest data and market trends.
  “The Monitor defines steel products consistently across countries and features graphical and data components,” Commerce said. “This will allow users to compare markets and objectively evaluate and react to market trends.”
   The reports will be made available on Commerce’s ITA website.