STEEL IMPORTS FOR January 2004
INCREASED 35 PERCENT FROM December 2003

February 24, 2004

Newly released preliminary government figures covering steel imports for the month of January 2004 show that steel imports increased 35 percent from December 2003 levels.

Total Steel Mill Products

The preliminary data released today show that overall steel imports in January 2004 increased 35 percent compared to December 2003. The change in January's total amount of steel imports was due primarily to an increase in imports of blooms, billets, and slabs; and wire rods. January 2004 imports of finished steel products increased 24 percent compared to December 2003, while imports of semi-finished steel increased 75 percent.

January 2004 imports of steel mill products were down 8 percent compared to January 2003. January 2004 imports of finished steel were down 16 percent compared to January 2003, while semi-finished steel products were increased 20 percent compared to January 2003

Hot-Rolled Steel

January 2004 imports of hot-rolled steel increased 27.8 percent from their December 2003 levels but were down 38 percent compared to January 2003 levels.

Cold-Rolled Steel

January 2004 imports of cold-rolled steel decreased less than 1 percent compared to December 2003 levels and were down 39 percent compared to January 2003 levels.

Cut-to-Length Plate

January 2004 imports of cut-to-length plate increased 66 percent compared to December 2003. January 2004 imports were down 8 percent compared to January 2003.

Corrosion-Resistant Steel

January 2004 imports of corrosion-resistant steel decreased 9 percent compared to December 2003. January 2004 imports of these products were down 57 percent compared to January 2003.

Wire Rod

January 2004 imports of wire rod increased 58 percent compared to December 2003 levels and were up 54 percent compared to January 2003 levels.

Heavy Structurals

January 2004 imports of heavy structurals decreased 38 percent from their December 2003 level and were down 19 percent compared to January 2003 levels.

Rebar

January 2004 imports of rebar increased 119 percent compared to December 2003. January 2004 imports of these products were down 7 percent compared to January 2003.

Hot-Rolled Bar

January 2004 imports of hot-rolled bar decreased 3 percent compared to December 2003 but were down 7 percent compared to January 2003 levels.

Standard Pipe

January 2004 imports of standard pipe increased 22 percent compared to December 2003. January 2004 imports of these products were up 19 percent compared to January 2003.

Oil Country Tubular Goods (OCTG)

January 2004 imports of OCTG increased 150 percent compared to December 2003. January 2004 imports of these products were up 169 percent compared to January 2003.

Semi-Finished Steel

January 2004 imports of semi-finished steel increased 75 percent compared to December 2003 and were up 20 percent compared to January 2003 levels. Imports of these products are used by U.S. steel companies to produce finished products.

EXPANDED BREAKOUT BY GRADE

Since May the U.S. Census Bureau (Census) expanded its early release of steel import data to include separate breakouts for carbon, alloy and stainless steel in each of the product categories. The following lists some of the highlights from these new breakouts:

Carbon Steel

Overall imports of carbon steel products in January 2004 increased 39 percent from their December 2003 levels and were down 9 percent compared to January 2003 levels.

Carbon Hot-Rolled Steel - Imports of carbon hot-rolled steel in January 2004 increased 39 percent compared to December 2003 and were down 40 percent compared to January 2003 levels.

Carbon Cold-Rolled Steel - Imports of carbon cold-rolled steel in January 2004 increased 2 percent compared to December 2003. January 2004 imports were down 47 percent compared to January 2003.

Alloy Steel

Overall imports of alloy steel products in January 2004 increased 25 percent compared to December 2003 and were down 2 percent compared to January 2003 levels.

Tool Steel - Imports of tool steel in January 2004 decreased 20 percent compared to December 2003. January 2004 imports were down 12 percent compared to January 2003.

Stainless Steel

Overall imports of stainless steel products in January 2004 decreased 14 percent from their December 2003 level and were down 11 percent compared to January 2003 levels.

Stainless Hot-Rolled Steel - Imports of stainless hot-rolled steel in January 2004 decreased 49 percent compared to December 2003. January 2004 imports were down 11 percent compared to January 2003.

Stainless Cold-Rolled Steel - Imports of stainless cold-rolled steel in January 2004 decreased 6 percent compared to December 2003. January 2004 imports were up less than 1 percent compared to January 2003.

Stainless Hot-Rolled Bars - Imports of stainless hot-rolled bars in January 2004 decreased 29 percent compared to December 2003 and were down 28 percent compared to January 2003 levels.

Stainless Cold-Finished Bars - Imports of stainless cold-finished bars in January 2004 increased 8 percent compared to December 2003. January 2004 imports were down 36 percent compared to January 2003.

These figures are being provided on an expedited basis and will continue to be released on this schedule each month. The data released today are preliminary and are likely to change somewhat between now and the release of the final January statistics next month. February 2004 preliminary figures will be released on March 30, 2004.