STEEL: IMPORTS BATTER STEELMAKERS

A wave of low-priced steel imports washing over suppliers to the construction industry is dunking prices. After about a year of stability, prices for structural steel fell sharply in the fall of 1998 and have yet to recover. Imports of structural shapes hit approximately 2 million tons (1.8 billion kg) in 1998, more than four times the 1997 level. Domestic prices dropped from about $450 per ton to as low as $300 in 1999's first quarter. The Commerce Department has taken steps to curb some steel imports, issuing preliminary rulings against hot-rolled steel products from Japan and Brazil and proposing antidumping penalties as high as 71%. On February 22, 1999, the United States and Russia reached tentative agreement to trim Russian exports of hot-rolled, flat-rolled steel by approximately 70%. In addition, several anti-import bills have been introduced in Congress.

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  • Corporate Authors:

    McGraw-Hill, Incorporated

    330 West 42nd Street
    New York, NY  United States  10036
  • Authors:
    • Ichniowski, T
  • Publication Date: 1999-3-22

Language

  • English

Media Info

  • Features: Photos; Tables;
  • Pagination: p. 90
  • Serial:
    • ENR
    • Volume: 242
    • Issue Number: 12
    • Publisher: McGraw-Hill, Incorporated
    • ISSN: 0891-9526

Subject/Index Terms

Filing Info

  • Accession Number: 00762921
  • Record Type: Publication
  • Files: TRIS
  • Created Date: May 2 1999 12:00AM