Finished steel imports up 30% in Feb.

According to the American Iron and Steel Institute (AISI), finished steel imports to the US increased 30 percent in February. Finished steel imports for the month of February 2006 totaled 3,511,000 nt, a thirty percent increase from February 2005. From certain countries, the upward trend in finished steel imports is even more sharply pronounced, like Taiwan, whose finished steel imports to the US were up 180 percent compared to the previous year, Turkey (up 135 percent), China (up 86 percent), South Korea (up 62 percent), and India (up 59 percent). AISI president and CEO Andrew Sharkey voiced his concern about these statistics: "The bulk of the import increases are coming from countries where subsidies are prevalent, currency undervaluation is practiced and capacity increases outstrip domestic demand. These trade distorting practices have the potential to damage the globally-competitive US and North American steel industry and need to be addressed." Products with large increases in February 2006 compared to the month before include rebars (up 149 percent), heavy structural shapes (up 81 percent), tin plate (up 42 percent), cold rolled sheets (up 35 percent), structural pipe and tubing (up 34 percent), and plates in coils (up 23 percent). Products with significant YTD increases compared to 2005 include rebars (up 138 percent), galvanized electrolytic sheets and strip (up 70 percent), bars, light shapes (up 81 percent), heavy structural shapes (up 79 percent), plates, cut lengths (up 60 percent), galvanized hot dip sheets and strip (up 26 percent), and cold rolled sheets (up 23 percent).