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Steel Imports Decline for Fourth Straight Month
"WASHINGTON -- William E. Gaskin, president of the Precision Metalforming Association, yesterday expressed concern about the level of steel imports following the Department of Commerce's announcement that January 2005 steel imports continued to decrease for the fourth straight month. The department reported overall steel imports for January at 2.2 million metric tons, an 18% decrease compared to December 2004.Imports of hot-rolled sheets, the product most used by association members, have also declined for the fourth straight month to 0.2 million metric tons, a 6% decrease from December 2004, Gaskin noted.On March 2, the International Trade Commission will conduct a "sunset review" hearing to determine whether to terminate or continue antidumping/countervailing duties on hot-rolled steel from Japan, Brazil and Russia beyond the five years they have already been in place. The association supports the removal of the import duties to help ease the pressure on the steel-consuming industry. "There is simply no longer a need for these duties," Gaskin commented. "The U.S. steel industry has gone through consolidation and is healthy, strong and making record profits. Further government protection is not needed. Keeping the duties will only continue to hurt steel consuming companies who are facing decreased import levels, hundreds of antidumping and countervailing duties, steel prices that are among the highest in the world, and other ongoing disruptions in the steel marketplace."According to PMA's January Steel Report, 66% of respondents said they received only partial shipments of steel they expected to receive in January, while 77% experienced late shipments. More than half of the survey participants also indicated that the current steel marketplace is significantly to critically disrupting their businesses. "For U.S. steel-consuming companies, imports are essential," Gaskin emphasized. "Since the termination of the Section 201 steel tariffs in December 2003, steel-consuming companies have been paying high steel prices, and have had severe problems with availability, late shipments and quality. The U.S. steel industry is unable to meet the demand for hot-rolled steel in the United States, and easing the duties on hot-rolled steel from Japan, Brazil and Russia will help steel consumers more easily obtain the steel they need at globally competitive prices."The Precision Metalforming Association represents the $41-billion metalforming industry of North America and has nearly 1,200 member companies that include metal stampers, fabricators, spinners, slide formers and roll formers.Visit the Precision Metalforming Association: www.metalformingadvocate.org"