Steel imports headed for an upswing: AIIS

Jun 19, 2012 | 04:19 PM | Catherine Ngai

Tags  steel imports, AIIS, David Phelps, Leon Goldenberg, John Foster, Catherine Ngai

NEW YORK — Steel import gains in the first half of 2012 have virtually disappeared due to the summer slowdown, although a near-term bottom could mean an upswing by the middle of the third quarter, according to American Institute for International Steel (AIIS) executives.

"As prices run up in the domestic market, it creates an incentive for the import side. It’s always a roll of the dice, however. Is the market going to continue that trajectory?" AIIS president David Phelps said during a roundtable discussion at the Steel Success Strategies XXVII conference in New York co-sponsored by AMM and World Steel Dynamics Inc. "What we’re seeing right now is that imports ordered at the beginning of the year are starting to come in when the markets are starting to soften."....

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