Weaker US tags said behind nearly 19% steel import drop in Nov.

Dec 23, 2009 | 10:54 AM | Corinna Petry

U.S. steel imports totaled 1,198,282 tonnes in November, down 18.8 percent from 1,475,031 tonnes in October, according to a preliminary Census Bureau report.

Measuring November preliminary data against October final figures, the five steel products that saw the most dramatic month-on-month declines were rebar, down 76.3 percent from October; coiled plate, down 59.8 percent; structural steel, down 55.3 percent; line pipe 16-inch diameter and larger, down 53.8 percent; and wire rod, down 48.4 percent.

Michelle Applebaum, analyst at Steel Market Intelligence, Chicago, attributes the lower November volume in part to "weaker pricing in the U.S. and elimination of the normal premium into the U.S. market."....

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