May Steel Imports Decrease 10 Percent from April

Washington, DC - Newly released preliminary government figures covering steel imports for the month of May 2002 show that steel imports decreased 10.9 percent from April 2002 levels.

Total Steel Mill Products

The preliminary data released show that overall steel imports in May 2002 decreased 10.9 percent compared to April 2002. The decrease in May's total amount of steel imports was due primarily to a decrease in imports of semi-finished steel, wire rod, and cut-to-length plate.

May 2002 imports of finished steel products decreased 9 percent compared to April 2002, and imports of semi-finished steel fell 18 percent. May 2002 imports of steel mill products were down 25 percent compared to May 2001. May 2002 imports of finished steel was down 30 percent compared to May 2001, while semi-finished steel products were up 8 percent compared to May 2001. January to May 2002 imports of steel mill products were up almost 1 percent compared to the same period in 2001. January to May 2002 imports of finished steel were down 8 percent compared to the same period last year, while imports of semi-finished steel were up 39 percent.

Hot-Rolled Steel

May 2002 imports of hot-rolled steel increased 18 percent from their April 2002 levels and were down 2 percent compared to May 2001 levels. January to May 2002 imports of hot-rolled steel were down 6 percent compared to the same period last year. These products were the subject of antidumping and countervailing duty investigations.

Cold-Rolled Steel

May 2002 imports of cold-rolled steel decreased 17 percent compared to April 2002 levels and were down 63 percent compared to May 2001 levels. January to May 2002 imports of cold-rolled steel were down 36 percent compared to the same period last year. These products are the subject of current antidumping and countervailing duty investigations.

Cut-to-Length Plate

May 2002 imports of cut-to-length plate decreased 24 percent compared to April 2002. May 2002 imports were down 56 percent compared to May 2001. January to May 2002 imports of cut-to-length plate were up 14 percent compared to the same period last year.

Corrosion-Resistant Steel

May 2002 imports of corrosion-resistant steel increased 7 percent compared to April 2002. May 2002 imports of these products were down 23 percent compared to May 2001. January to May 2002 imports of corrosion-resistant steel were up 18 percent compared to the same period last year.

Wire Rod

May 2002 imports of wire rod decreased 49 percent compared to April 2002 levels, and were down 21 percent compared to May 2001 levels. January to May 2002 imports of wire rod were up 12 percent compared to the same period last year. These products are the subject of current antidumping and countervailing duty investigations.

Heavy Structurals

May 2002 imports of heavy structurals increased 38 percent from their April 2002 level and were down 20 percent compared to May 2001 levels. January to May 2002 imports of heavy structurals were down 22 percent compared to the same period last year.

Rebar

May 2002 imports of rebar rose 28 percent compared to April 2002. May 2002 imports of these products were down 47 percent compared to May 2001. January to May 2002 imports of rebar were down 9 percent compared to the same period last year.

Hot-Rolled Bar

May 2002 imports of hot-rolled bar decreased 15 percent compared to April 2002 and were down 7 percent compared to May 2001 levels. January to May 2002 imports of hot-rolled bar were up 10 percent compared to the same period last year.

Standard Pipe

May 2002 imports of standard pipe increased 3 percent compared to April 2002. May 2002 imports of these products were down 34 percent compared to May 2001, and January to May 2002 imports of standard pipe were down 8 percent compared to the same period last year.

Oil Country Tubular Goods (OCTG)

May 2002 imports of OCTG increased 16 percent compared to April 2002. May 2002 imports of these products were down 53 percent compared to May 2001. January to May 2002 imports of OCTG were down 57 percent compared to the same period last year.

Semi-Finished Steel

May 2002 imports of semi-finished steel decreased 18 percent compared to April 2002 but were up 8 percent compared to May 2001 levels. January to May 2002 imports of semi-finished steel were up 39 percent compared to the same period last year. Imports of these products are used by U.S. steel companies to produce finished products. I don't mind that my grandson is earning more than I did on my first job. What disturbs me is he's just seven, and it's his allowance!