DiMicco urges 'proactive' measures on imports

Apr 20, 2012 | 04:08 PM | Anne Riley

Tags  Nucor, steel imports, Dan DiMicco, steel trade, counter measures, steel imports surge, steel long products, steel sheet steel plate

NEW YORK — The recent surge in steel imports that has been weighing down the domestic long products segment is starting to trickle over to flat-rolled products as well, further highlighting the need for a "proactive" government response, said Nucor Corp. chairman and chief executive officer Daniel DiMicco.

"We have a global economy that is sputtering. We have a domestic economy that is growing at a snail’s pace. And there’s massive oversupply in some products here in the United States and around the world, created in this country by both domestic overcapacity based on the demand levels we’re seeing—not based on peak demand—and the influx of imports," DiMicco told investors during an earnings call Thursday. "In particular, we’ve seen a significant, serious flood of imports from Turkey, (including) reinforcing bar and a little bit on merchant. And we’re starting to see it on sheet and we’re concerned about that."....

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