For Immediate Release

January 10, 2008

FULL YEAR 2007 STEEL IMPORTS WERE AT ELEVATED LEVELS

Permit Applications Decreased 11 Percent in December

Washington, D.C. - Based on the Commerce Department’s most recent Steel Import Monitoring and Analysis (SIMA) data, the American Iron and Steel Institute (AISI) reported today that steel import permit applications for the month of December 2007 totaled 2,107,000 net tons (NT).  This was an 11 percent  decrease from the 2,355,000 permit tons recorded in November 2007, and an 8 percent decrease from the November preliminary imports total of 2,280,000 NT.  Import permit tonnage for finished steel in December 2007 was 1,712,000 NT, a decrease of 11 percent from the preliminary imports of 1,922,000 NT in November.  

For 2007 (12-month total, including November preliminary and December SIMA data), total and finished steel imports (at 33.3 and 27.0 million NT) were 4 and 7 percent higher, respectively, than in 2005 (also an historical high year), but 26 and 25 percent below the record levels of 2006.

For December 2007, the largest volumes of finished steel import permit applications for countries outside of North America were China (185,000 NT), Korea (105,000 NT) and Japan (98,000 NT).   For full year 2007 (including November preliminary and December SIMA data), the largest offshore suppliers of finished steel imports were China (4,582,000 NT), South Korea (2,044,000 NT) and Japan (1,491,000 NT).  Imports of finished steel from China last year were 14 percent below record 2006, but roughly double the amount in 2005 -- and in certain categories (e.g., pipe and tube), they set all-time records for an offshore supplier and as a percentage of market share.

In summing up 2007 imports (including November preliminary and December SIMA data), AISI President and CEO Andrew G. Sharkey, III, said that, “While imports decelerated during the second half of 2007, steel import totals for the year were at elevated levels.  In 2007, there were strong concerns about trade and market-distorting practices in the global steel sector, and about ongoing high levels of imports in certain product categories.  China, a non-market economy, remained of particular concern.  Not only did China continue as the largest offshore supplier of finished steel to the U.S. and NAFTA region in 2007, but we also saw record imports of downstream steel products and of steel-containing goods in general from China last year.”

AISI serves as the voice of the North American steel industry in the public policy arena and advances the case for steel in the marketplace as the preferred material of choice.  AISI also plays a lead role in the development and application of new steels and steelmaking technology.  AISI is comprised of 32 member companies, including integrated and electric furnace steelmakers, and 125 associate and affiliate members who are suppliers to or customers of the steel industry.  AISI's member companies represent approximately 75 percent of both U.S. and North American steel capacity.  For more news about steel and its applications, view AISI’s Web site at www.steel.org.

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CONTACT:
Nancy Gravatt
Vice President, Communications American Iron and Steel Institute
tel: 202.452.7115