STEEL IMPORTS FOR January 2005
DECREASED 18 PERCENT FROM December 2004

February 23, 2005

Newly released preliminary government figures covering steel imports for the month of January 2005 show that steel imports decreased 18 percent from December 2004 levels.

Total Steel Mill Products

The preliminary data released today show that overall steel imports in January 2005 decreased 18 percent compared to December 2004. The change in January's total amount of steel imports was due primarily to a decrease in wire rods, cold-rolled sheets, and hot dipped galvanized sheets. January 2005 imports of finished steel products decreased 26 percent compared to December 2004, while imports of semi-finished steel increased 20 percent.

January 2005 imports of steel mill products were up 2 percent compared to January 2004. January 2005 imports of finished steel were up 4 percent compared to January 2004, while semi-finished steel products decreased 3 percent compared to January 2004.

Hot-Rolled Steel

January 2005 imports of hot-rolled steel decreased 4 percent from their December 2004 levels but were up 29 percent compared to January 2004 levels.

Cold-Rolled Steel

January 2005 imports of cold-rolled steel decreased 37 percent compared to December 2004 levels and were up 86 percent compared to January 2004 levels.

Cut-to-Length Plate

January 2005 imports of cut-to-length plate decreased 45 percent compared to December 2004. January 2005 imports were down 6 percent compared to January 2004.

Corrosion-Resistant Steel

January 2005 imports of corrosion-resistant steel decreased 28 percent compared to December 2004. January 2005 imports of these products were up 139 percent compared to January 2004.

Wire Rod

January 2005 imports of wire rod decreased 81 percent compared to December 2004 levels and were down 80 percent compared to January 2004 levels.

Heavy Structurals

January 2005 imports of heavy structurals increased 16 percent from their December 2004 level and were up 52 percent compared to January 2004 levels.

Rebar

January 2005 imports of rebar decreased 21 percent compared to December 2004. January 2005 imports of these products were down 63 percent compared to January 2004.

Hot-Rolled Bar

January 2005 imports of hot-rolled bar decreased 16 percent compared to December 2004 but were down 20 percent compared to January 2004 levels.

Standard Pipe

January 2005 imports of standard pipe increased 9 percent compared to December 2004. January 2005 imports of these products were up 18 percent compared to January 2004.

Oil Country Tubular Goods (OCTG)

January 2005 imports of OCTG increased 8 percent compared to December 2004. January 2005 imports of these products were down 4 percent compared to January 2004.

Semi-Finished Steel

January 2005 imports of semi-finished steel increased 20 percent compared to December 2004 and were down 3 percent compared to January 2004 levels. Imports of these products are used by U.S. steel companies to produce finished products.

EXPANDED BREAKOUT BY GRADE

Since May 2001 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 2005 decreased 17 percent from their December 2004 levels and were stagnant compared to January 2004 levels.

Carbon Hot-Rolled Steel - Imports of carbon hot-rolled steel in January 2005 decreased 4 percent compared to December 2004 and were up 25 percent compared to January 2004 levels.

Carbon Cold-Rolled Steel - Imports of carbon cold-rolled steel in January 2005 decreased 40 percent compared to December 2004. January 2005 imports were up 102 percent compared to January 2004.

Alloy Steel

Overall imports of alloy steel products in January 2005 decreased 22 percent compared to December 2004 and were up 5 percent compared to January 2004 levels.

Tool Steel - Imports of tool steel in January 2005 decreased 25 percent compared to December 2004. January 2005 imports were up 44 percent compared to January 2004.

Stainless Steel

Overall imports of stainless steel products in January 2005 decreased 21 percent from their December 2004 level and were up 45 percent compared to January 2004 levels.

Stainless Hot-Rolled Steel - Imports of stainless hot-rolled steel in January 2005 decreased 52 percent compared to December 2004. January 2005 imports were up 66 percent compared to January 2004.

Stainless Cold-Rolled Steel - Imports of stainless cold-rolled steel in January 2005 decreased 19 percent compared to December 2004. January 2005 imports were up 59 percent compared to January 2004.

Stainless Hot-Rolled Bars - Imports of stainless hot-rolled bars in January 2005 decreased 10 percent compared to December 2004 and were up 67 percent compared to January 2004 levels.

Stainless Cold-Finished Bars - Imports of stainless cold-finished bars in January 2005 decreased 4 percent compared to December 2004. January 2005 imports were up 92 percent compared to January 2004.

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 2005 preliminary figures will be released on March 29, 2005.