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STEEL IMPORTS THROUGH FEBRUARY UP 29 PERCENT;2000 CONTINUES ON PACE AS SECOND HIGHEST YEAR FOR IMPORTS WEIRTON, W.VA. – Weirton Steel Corp. today reported it is contacting certain members of Congress regarding the continued high level of steel imports. During the first two months of this year, imports rose 29 percent over the first two months of 1999. Through February, 6.4 million tons were imported compared to 5 million tons during the same period in 1999. "We are contacting members of Congress who have supported our industry in addition to the leadership of the House and Senate Steel Caucuses to keep them up to speed on these latest developments," said Richard K. Riederer, Weirton Steel chief executive officer. "There are legislative proposals before Congress that would strengthen our trade laws, especially in respect to illegally priced and subsidized imports. It appears the time is near to have these measures seriously considered as foreign governments maintain their efforts to weaken our existing trade laws." The import statistics released Thursday by the American Iron and Steel Institute (AISI) reveals that if the current import rate continues, 2000 will be the second highest import year in U.S. history with 39 million tons. The record year is 1998 with 41.5 million tons. "Especially disturbing is the drastic increase in imports from countries that traditionally have not shipped a significant amount of steel to domestic markets. Imports from these countries climbed 73 percent for the first two months of 2000 over the same period in 1999. In addition, we’ve seen a 71 percent rise in hot-rolled steel in the same two months," commented Riederer, also AISI’s chairman. Using the first two-month comparisons from 1999 to 2000, the three leading countries with shipments to the U.S. include: Ukraine, up 467 percent; Taiwan, up 304 percent; and Australia, up 141 percent. |
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