US steel imports in 2010 surge by 47pct YoY

Tuesday, 01 Feb 2011
The Journal of Commerce reported that US steel imports in 2010 rose by 47.2% YoY.
For the year, steel imports totaled 23.9 million tons, compared with 16.2 million in 2009. Steel imports in December totaled 1.811 million tons. That was up 1.4% from November and a 28.4% increase from December 2009.

Mr David Phelps president of the American Institute for International Steel said “Current market conditions appear to increase the reasons for optimism for early 2011 for imports, domestic shipments and based on reports associated with international conditions, for exports.”
He added “Stronger market conditions at the end of the year in the US are reflected in the increase in December of arrivals of semi finished steel products for conversion by domestic mills. This optimistic development also coincides with improved pricing and lengthening lead times for the domestic industry at the end of 2010.” (sourced:joc.com)