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Steel imports up 13.9% in August vs. July

Sep 25, 2013 | 07:02 PM |

Tags  steel imports, oil country goods, line pipe, cold-rolled, Catherine Ngai

NEW YORK — U.S. steel imports edged up in August due to large shipments of oil country goods, cold-rolled sheet and line pipe, according to preliminary U.S. Census Bureau data.

Steel imports totaled about 2.6 million tonnes last month, up 13.9 percent from 2.29 million tonnes in July and 7.3 percent higher than the 2.43 million tonnes imported in the same month last year.

Oil country goods saw the biggest gain, jumping to 342,204 tonnes in August, up 61.8 percent month on month and 27.9 percent year on year.

Imports of line pipe over 16 inches reversed last month’s slide with a 39-percent gain to 67,562 tonnes, although the tally was down 25.6 percent from 90,869 tonnes in August 2012.

Losses were seen in imports of cut-to-length plate (down 10.4 percent) and hot-rolled sheet (off 10.1 percent).

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What impact would the Trump administration’s proposed tax reform have on the metals markets?

It would lift sentiment and improve demand and prices
It could have a negative impact if public spending is cut as a result
It wouldn’t have any impact on the markets
It’s unlikely to get done

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