AISI: US’ indirect steel trade surged 24 percent in 2010
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The American Iron and Steel Institute (AISI) announced Thursday that it has published a new report revealing that US indirect steel imports and the total US indirect steel trade deficit both registered substantial growth in 2010. The AISI report indicated that indirect steel imports in 2010 took a higher share of total US apparent steel consumption than prior to the 2008-2009 global recession. "Indirect steel trade" constitutes imports and exports of steel-containing goods, expressed in tons of steel.
The report shows that US indirect steel imports approached 34 million net tons (nt) in 2010, up 24 percent versus 2009. While US indirect steel exports also increased over this time period (up 19 percent), the total US indirect steel trade deficit with the rest of the world--much of it in automotive products--rose 32 percent in 2010 to 11.9 million nt.
Thomas J. Gibson, AISI's President and CEO commented that China's share of the total US indirect steel trade deficit remained close to 50 percent. He added: "With the slowdown in global economic growth and China's growing excess capacity in both steel and steel-intensive goods, there could be renewed surges of unfairly traded Chinese steel to the US and NAFTA markets--either imported directly or indirectly. The current economic problems in Europe only amplify the threat that the US and North America could become even bigger targets for Chinese steel and steel-intensive goods going forward."