Steel imports lag 2007 levels
U.S. steel imports in the first six months of the year totaled 15.87 million tons, 10.9 percent behind the same period in 2007, according to the American Institute for International Steel.
Dave Phelps, president of the institute, said factors limiting imports — strong markets overseas, high freight rates and the weak dollar — continued to impede the import side of supply.
Phelps said given “the context of high prices, the domestic industries strong profitability along with more price increases announced for September for some products, recent decisions on injury under our trade laws are suspect. This is an industry that does not need protection. Trade cases against steel serve only to endanger further steel consumers’ viability.”
Looking forward, he predicted, “high and rising prices in the U.S. market for some products suggest that conditions for imports could improve later in the year.”