Steel Products Prices North America
June 12, 2014
Foreign Steel Import Analysis: 2006 vs. 2014
Written by John Packard
As you could probably sense from our last issue of Steel Market Update, we are concerned about the amount of foreign steel imports related to the strength of the overall economy. It is one thing to see imports surging when the economy is hot and steel usage is high like we saw in 2004, 2006 and during the beginning of 2008.
However, with residential and commercial construction well below 2006 levels, and apparent steel supply lagging where we were during those busy years of 2004 and 2006, in particular, the domestic mills have to be surprised to see foreign imports approaching or exceeding the 4 million net ton mark which is what the import license data is pointing to for the month of May.
