SSINA: First quarter bar, rod imports raise red flags

The dramatic increase in imports and import penetration of stainless steel bar and rod in the first quarter of 2005 raises red flags for U.S. producers, according to the Specialty Steel Industry of North America (SSINA).

YTD stainless steel bar imports through March 2005 shot up 82 percent to 29,898 tons compared to the same period last year, with import penetration increasing 14 percentage points to 49 percent. Stainless steel rod imports increased 42 percent to 12,421 tons, capturing 61 percent of the U.S. market. U.S. stainless steel bar and rod producers made it clear that the imports, particularly from Italy, Taiwan, India, Germany, China, and Sweden, are on the industry's radar screen and being monitored closely.

Stainless steel wire imports also increased year on year capturing 56 percent of the U.S. market. Imports from U.K., Germany, Spain, Sweden, Switzerland, China, and Korea increased substantially.

SSINA is a Washington, DC-based trade association representing continental specialty metals producers.