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Cold Finished Steel Bar Institute unveils industry data program

The Cold Finished Steel Bar Institute (CFSBI), Washington, D.C., has announced the inauguration of a program to collect and aggregate industry data for carbon and alloy steel bars.

“Former reports may not have reasonably reflected the overall size of the U.S. market, the amount of apparent domestic consumption, nor the market's general direction and exposure to import activity,” said CFSBI Chairman Michael Salamon, president and COO of Niagara LaSalle Corp. "We believe the new program will prove to be substantially more accurate and valuable for our industry.”

The new program will be administered by Georgetown Economic Services (GES), a subsidiary of the law firm Kelley Drye & Warren, legal counsel to the CFSBI. GES will collect confidential monthly shipment data from member and nonmember companies. Federal government guidelines will be followed to ensure that confidential data of individual companies will not be disclosed.

If some U.S. producers decide not to report to GES, estimates of their shipment volumes will be made to enhance the accuracy of the aggregate data. The private industry data will be aggregated with official U.S. government import and export statistics in order to portray activity in the U.S. market. The new program will be effective with January 2015 data.