Quarter one stainless bar and rod imports cause alarm

Quarter one stainless bar and rod imports cause alarm

According to the Specialty Steel Industry of North America (SSINA), US producers of stainless steel bar and rod should be alarmed at quarter one 2005 imports data. Year-to-date imports of stainless steel bar through March skyrocketed 82% to 29'898 tons for the some 2004 period. Import penetration increased by 14% to a total of 49%. Meanwhile imports for stainless steel rod increased 42% to 12'421 tons which accounted for 61% of the US market. Similarly, imports of stainless steel wire increased to 56% year-on-year. Taiwan, India, Germany, China, Spain, Sweden, Switzerland, and Korea combined for the most imports.