Steel Imports for May Rose 6.8% From April
April 03, 2011
Suburbia -- U.S. steel imports climbed 6.8% in May from April, and rose 7.6% from the May 2010 level. May imports totaled 2,325,034 tons, compared with 2,177,103 tons in April and 2,160,188 tons a year earlier, according to the American Iron and Steel Institute's compilation of Commerce Department statistics. May imports represented 22% of consumption, compared with 21% in March and 21% a year ago. The American Institute for International Steel, which represents steel importers, noted that ``U.S. steelmakers continued to import large quantities of slabs and billets -- semifinished products just one step beyond the raw-steel stage -- due to production bottlenecks and blast furnace failure.'' According to the American Iron and Steel Institute, U.S. exports for May totaled 470,528 tons, up 19% from the 395,671 tons exported in April and up 0.8% from 466,621 tons exported in May 2010.
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