US specialty steel consumption keeps on increasing

US specialty steel consumption keeps on increasing

Based on the data published by Specialty Steel Industry of North America (SSINA), specialty steel consumption increased by 6% annually to 686'149 tons in the first three months of 2004. Although imports decreased by 1% to 169'171 tons, they still accounted for 25% of the US specialty steel market. Specialty steel comprises stainless steel, alloy tool and electrical steel. In the first three months of 2004, stainless steel consumption reached 575'486 tons, indicating a rise of 8% compared to the same period of last year. Imports of stainless steel increased by 3% to 133'165 tons. Stainless steel sheet/strip consumption and imports both increased. Demand for the industry's largest product line jumped by 9% to 430'967 tons. Imports of aforesaid products amounted to 82'765 tons with an increase of 4%. Consumption of stainless steel plate was recorded as 71'982 tons, revealing a 15% rise. Stainless steel plate imports soared by 25% to 15'357 tons. Imports of stainless steel bar and stainless steel rod decreased by 9% and 22% to 16'432 tons and 8'731 tons respectively.