USS warns on imports, threatens complaint

Oct 31, 2012 | 09:53 AM | Michael Cowden

Tags  steel, U.S. Steel, John Surma, tubular, pipe and tube, flat-rolled steel, imports, trade case Michael Cowden

CHICAGO – U.S. Steel Corp. is keeping a close eye on imports of flat-rolled and tubular products, particularly from South Korea, and may file a trade complaint if it deems it necessary, company executives said.

The Pittsburgh-based steelmaker has seen both spot and contract prices for flat-rolled products tumble as a result of high import volumes and lower raw material costs, U.S. Steel chairman and chief executive officer John P. Surma said Tuesday during a conference call following the release of third-quarter financial data.

Flat-rolled imports “eased slightly” in the third quarter as domestic prices “receded,” but year-to-date import volumes still remained above levels seen in the first nine months of 2011 and “well above the modest increase in domestic demand,” Surma said.....

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