NEWS RELEASES - 1999
FOR IMMEDIATE RELEASE:
Contact: |
Meg Mullery |
202.342.8439 |
STAINLESS STEEL IMPORTS CONTINUE DOWNWARD SPIRAL
Import Trends Mirror Trade Cases
(Washington, D.C.) - Stainless steel imports of all product lines - sheet and strip, plate, bar, rod and wire -- decreased dramatically in February 1999 compared to February 1998, according to data released today by the Specialty Steel Industry of North America (SSINA). In comparing the two months, total stainless steel imports dropped 25% to 86,057 tons in February 1999 from 113,988 tons in February 1998; total specialty steel imports, which comprise stainless, alloy and tool steels, decreased 19% to 113,704 from 140,987 tons.
"The effectiveness of U.S. trade laws in reversing the record of illegal imports into the U.S. markets, along with the successful conclusion of many trade cases, will make 1999 a pivotal year for the stainless steel industry," commented James F. Will, Chairman of SSINA, and Chairman, President and CEO of Armco Inc., Pittsburgh PA. "Sheet and strip in coil and plate in coil imports for February 1999 vs. February 1998 are down 17% and 42%, respectively. Both products are the subject of unfair trade cases that will conclude this year," said Will.
On March 22, the Department of Commerce assessed final antidumping and countervailing duties ranging up to 45.09% on imports of stainless steel plate in coils from six countries. Final antidumping and countervailing duty margins for stainless steel sheet and strip in coil imports from eight countries will be announced on May 20, 1999. Sheet and strip in coil is the industry's largest product line. (See attached Status of Unfair Trade Cases for additional information on trade cases covering these and other stainless steel product lines.)
For other specialty steel product lines, the tonnage and import percentages covering the February 1999 vs. February 1998 period are as follows: stainless steel bar, down 34% to 10,462 from 15,891 tons; stainless steel rod, down 32% to 9,103 from 13,409 tons; stainless steel wire, down 37% to 3,211 from 5,073 tons; alloy tool steel, down 17% to 9,745 from 11,760 tons; and electrical steel, up 18% to 17,902 from 15,149 tons. (For additional information, see attached imports, consumption and market penetration statistical data attached).
The Specialty Steel Industry of North America is a Washington, D.C.-based trade association representing virtually all continental producers of stainless steel and alloy tool steels, electrical steels, super alloys, and other high technology materials.
David A. Hartquist, an international trade attorney with the Washington, D.C. law firm of Collier, Shannon, Rill & Scott, pllc, serves as lead counsel to SSINA.
U.S.
Imports, Consumption and Market Penetration Data*
For Specialty Steel Product Lines
1999/1998/1997
(Short Tons)
|
|
|
Two Month Import |
|||
|
Imports |
U.S. Consumption |
Penetration |
|||
Specialty Steel |
YTD |
Percent |
YTD |
Percent |
YTD |
YTD |
Product Lines |
February |
Increase/ |
February |
Increase/ |
February |
February |
|
1999 |
Decrease |
1999 |
Decrease |
1999 |
1998 |
Stainless Sheet/Strip |
56,449 |
-17% |
277,940 |
-13% |
20% |
21% |
Stainless Plate |
6,832 |
-42% |
33,094 |
-35% |
21% |
23% |
Stainless Bar |
10,462 |
-34% |
30,468 |
-29% |
34% |
37% |
Stainless Rod |
9,103 |
-32% |
13,140 |
-33% |
69% |
69% |
Stainless Wire** |
3,211 |
-37% |
8,527 |
-48% |
38% |
31% |
Total
Stainless Steel** |
86,057 |
-25% |
363,169 |
-19% |
24% |
25% |
Tool Steel |
9,745 |
-17% |
16,236 |
-16% |
60% |
61% |
Electrical Steel |
17,902 |
18% |
80,098 |
-4% |
22% |
18% |
Total Specialty Steel |
113,704 |
-19% |
459,503 |
-17% |
25% |
26% |
1998 and 1997 statistical data in tons follow:
|
Imports |
U.S. Consumption |
Import Penetration |
|||
|
|
Percent |
|
Percent |
|
|
Specialty Steel |
1998 |
Increase/ |
1998 |
Increase/ |
1998 |
1997 |
Product Lines |
|
Decrease |
|
Decrease |
|
|
Stainless Sheet/Strip |
416,740 |
15% |
1,843,557 |
6% |
23% |
21% |
Stainless Plate |
56,903 |
-6% |
266,800 |
-6% |
21% |
21% |
Stainless Bar |
94,306 |
3% |
235,760 |
-7% |
40% |
36% |
Stainless Rod |
61,988 |
-23% |
90,403 |
-20% |
69% |
72% |
Stainless Wire |
30,572 |
2% |
47,453 |
0% |
64% |
63% |
Total
Stainless Steel |
660,509 |
6% |
2,483,972 |
2% |
27% |
26% |
Tool Steel |
67,893 |
11% |
107,816 |
-2% |
63% |
56% |
Electrical Steel |
124,754 |
12% |
517,368 |
0% |
24% |
22% |
Total Specialty Steel |
853,156 |
7% |
3,109,156 |
2% |
27% |
26% |
NOTE: |
Changes in import penetration are percentage point changes. |
* |
Imports adjusted to exclude hot bands imported for re-rolling and reported under shipments. |
** |
Shipments estimated and subject to revision when actual data is received. |
*** |
Shipment and consumption data for these categories may be overstated due to the inclusion of shipment from wire redrawers which are already included in shipments/imports of rod; consequently import penetration may be slightly understated. |
Stainless
Steel Producers and Unions
Status of Unfair Trade Cases by Major Product Line Filed in 1997 and 1998
Product |
Stainless Steel Rod |
Date Filed |
July 30, 1997 |
Named Countries |
Italy, Germany, Japan, Korea, Spain, Sweden, Taiwan |
Status |
The case concluded with the issuance of final antidumping and countervailing duty (CVD) orders by the Commerce Department on 9/15/98. The duties range up to 34%, with penalties extending back to 3/5/98. The International Trade Commission (ITC) voted on final injury determination on 9/1/98. Excluding Germany, ITC concluded that imports from six of the seven named countries caused injury to producers. |
Next Step |
On 10/15/98, appeals were filed with Court of International Trade. Successful appeals would result in a significant increase in the antidumping duties levied on imports from Korea and the assessment of antidumping duties on imports from Germany. The industry will vigorously pursue the appeals process with the hope of a decision by yearend 1999. |
|
|
Product |
Stainless Steel Round Wire |
Date Filed |
March 27, 1998 |
Named Countries |
Canada, India, Japan, Korea, Spain, Taiwan |
Status |
On 6/4/98, the ITC preliminarily determined that imports from the named countries are injuring the domestic industry. On 11/13/98, Commerce set preliminary antidumping duties ranging up to 36% on imports from the subject countries. On April 5, final antidumping duties ranging up to 36% were announced by Commerce. |
Case Concludes |
The ITC must make a final injury determination, which is expected in May 1999. |
|
|
Product |
Stainless Steel Plate in Coils |
Date Filed |
March 31, 1998 |
Named Countries |
Belgium, Canada, Italy, South Korea, South Africa, Taiwan |
Status |
On 5/15/98, the ITC voted preliminarily that imports from the named countries are injuring the domestic industry. On 9/1/98, Commerce issued preliminary CVD determinations against Korea, Italy, Belgium, and South Africa ranging up to 15%. On 10/27/98, Commerce announced preliminary antidumping duties ranging up to 68% on imports from the six named countries. Subsequently, on 12/3/98, Commerce published a revised preliminary determination on imports from Taiwan and took the extremely unusual step of finding that Taiwanese producer Ta Chen Stainless Pipe and its U.S. subsidiary, Ta Chen International, engaged in "middleman dumping" of coiled stainless steel plate produced by Yieh United Steel Corp. On March 22, 1999, Commerce issued final antidumping duties ranging between 7% and 45% and countervailing duties ranging between 2% and 15%. |
Case Concludes |
The ITC must make a final injury determination by May 7, 1999. |
|
|
Product |
Stainless Steel Sheet and Strip in Coils |
Date Filed |
June 10, 1998 |
Named Countries |
France, Germany, Italy, Japan, Mexico, South Korea, Taiwan, United Kingdom |
Status |
On 7/24/98, the ITC voted preliminarily that imports from the named countries are injuring the domestic industry. On 10/30/98, U.S. producers requested that Commerce apply the "critical circumstances" provision of U.S. trade laws to combat recent import surges. An affirmative finding would impose antidumping duties retroactively to 9/18/98. On 11/10/98, Commerce announced preliminary CVD rates ranging up to 29% against France, Italy and South Korea. On 12/18/98, Commerce announced preliminary antidumping duty margins ranging up to 59%, and decided favorably on "critical circumstances" as to Germany, Japan (Nippon Metals, Nippon Yakin, and Nisshin only) and Korea (Taihan Electric Wire Co. only). "Critical circumstances" were not found for Italy and Taiwan. |
Case Concludes |
Commerce will issue its final dumping and CVD determinations on May 20, 1999; the ITC will issue its final report by July 5. |
