|
FOR IMMEDIATE RELEASE:
Date: January 9,
2002
| Contact: |
Meg Mullery |
202.342.8439 |
IMPORTS CONTINUE TO FRUSTRATE
U.S. SPECIALTY
STEEL INDUSTRY
(Washington, DC) (January 9, 2002) -- The latest data
released today by the U.S. specialty steel industry comparing
January/September 2001 to the same 2000 period indicate that
the levels of import penetration remain high.
Specialty steel imports captured 25% of the U.S. market
in the first nine months of 2001, while 23% of the U.S. market
for stainless steel, the industry's largest product line, was
lost to imports. Twelve month import penetration in 1999 was
26% for total specialty steel and 25% for total stainless
steel, indicating little change in import penetration over
recent years.
H.L. Kephart, Chairman of the Specialty Steel Industry
of North America (SSINA), observed, "Recently, the U.S.
International Trade Commission recommended that President Bush
impose either tarrifs or tarrifs and quotas on some stainless
steel products. According to press reports, the commission's
findings 'spooked' many international steelmakers because of
concerns about a Presidentially-imposed trade remedy. These
same steelmakers must know that years of unfairly priced and
subsidized imports flooding the only open market in the world
have devastated our industry, as evidenced by the import
penetration statistics. Potential tarriffs and quotas are
meant to address this problem in the short-term to remedy the
injury found by the U.S. International Trade
Commission.
By product line, alloy tool steel was slammed the
hardest. Faced with a 26 percentage point increase in import
penetration for the first nine months of 2001 compared to the
same 2000 period, alloy tool steel lost 93% of the U.S. market
to imports.
Stainless steel rod placed second with import
penetration at 78%. Stainless steel wire and stainless steel
bar were a close third at 48% and 47%,
respectively.
The data show a decrease in specialty steel imports of
27% and a sharp 20% drop in U.S. specialty steel consumption
in January/September 2001 vs. January/September 2000. While
stainless steel imports decreased 33%, consumption of
stainless steel declined 21%. (See attached table for
additional data on imports, U.S. consumption and import
penetration for 2001/2000/1999.)
SSINA is a Washington, DC-based trade association
representing virtually all continental specialty steel
producers. Specialty steels are high technology, high value
stainless and other specialty alloy products. While shipments
of specialty steel account for only 2% of all steel shipped in
North America, annual revenues of approximately $8 billion
account for 14% of the total value of all steel
shipped.
David A. Hartquist, an international trade attorney
with the Washington, DC law firm of Collier Shannon Scott,
PLLC, serves as lead counsel to SSINA.
U.S. Imports, Consumption and Market Penetration
Data*
For Specialty Steel Product Lines
2001/2000/1999
|
Imports |
U.S. Consumption |
Nine Month
Import
Penetration |
Specialty Steel
Product
Lines |
Month
Sept.
2001 |
YTD
Sept.
2001 |
Increase/
Decrease
YTD
2001-00 |
Month
Sept.
2001 |
YTD
Sept.
2001 |
Increase/
Decrease
YTD
2001-00 |
YTD
Sept.
2001 |
YTD
Sept.
2000 |
| Stainless Sheet/Strip |
20,644 |
198,051 |
-39% |
135,644 |
1,171,810 |
-21% |
17% |
22% |
| Stainless Plate |
3,179 |
31,066 |
-45% |
18,936 |
173,920 |
-14% |
18% |
28% |
| Stainless Bar |
4,639 |
82,431 |
-17% |
12,981 |
176,268 |
-15% |
47% |
48% |
| Stainless Rod |
4,256 |
45,962 |
-30% |
5,431 |
58,621 |
-32% |
78% |
76% |
| Stainless Wire** |
2,161 |
23,497 |
-1% |
3,700 |
48,540 |
-26% |
48% |
36% |
Total Stainless Steel***
(Sheet, Strip,
Plate, Bar, Rod & Wire) |
34,879 |
381,007 |
-33% |
176,675 |
1,629,158 |
-21% |
23% |
28% |
| Tool
Steel |
4,425 |
55,727 |
-2% |
5,434 |
59,657 |
-30% |
93% |
67% |
| Electrical Steel |
7,825 |
85,753 |
-5% |
37,491 |
371,712 |
-14% |
23% |
21% |
| Total Specialty |
47,129 |
522,487 |
-27% |
219,599 |
2,060,526 |
-20% |
25% |
28% |
2000 and 1999 statistical data in tons
follow:
|
Imports |
U.S. Consumption
|
Twelve Month
Import Penetration
|
Specialty Steel
Product
Lines |
2000
|
Percent
Increase/
Decrease |
2000
|
Percent
Increase/
Decrease |
2000
|
1999
|
| Stainless Sheet/Strip |
388,263 |
-5% |
1,896,324 |
-0.03% |
20% |
21% |
| Stainless Plate |
65,622 |
9% |
253,559 |
1% |
26% |
24% |
| Stainless Bar |
125,725 |
44% |
267,115 |
22% |
47% |
40% |
| Stainless Rod |
82,056 |
25% |
108,910 |
15% |
75% |
69% |
| Stainless Wire** |
31,059 |
26% |
83,032 |
-2% |
37% |
29% |
Total Stainless Steel***
(Sheet, Strip,
Plate, Bar, Rod & Wire) |
692,726 |
7% |
2,608,940 |
2% |
27% |
25% |
| Tool Steel |
78,629 |
6% |
114,227 |
1% |
69% |
65% |
| Electrical Steel |
122,654 |
7% |
565,608 |
10% |
22% |
22% |
| Total Specialty |
894,009 |
7% |
3,288,775 |
4% |
27% |
26% |
| NOTE: |
Changes in import penetration are percentage
point changes. |
| * |
Imports adjusted to exclude hot bands imported
for re-rolling and reported under shipments.
|
| ** |
Shipments for 2001 estimated and subject to
revision when actual data is received. |
| *** |
Shipment and consumption data for these
categories may be overstated due to the inclusion of
shipments from wire redrawers which are aready included
in shipments/imports of rod; consequently import
penetration may be slightly understated.
|
Prepared by Georgetown Economic Services for the
Specialty Steel Industry of North America
|
