Thursday, September 07, 2006

Stand Up for Steel launches drive to save manufacturing jobs

The number of US steel import licences are expected to decline further in September, having shown a near 10% decline in August compared with the previous month, a steel analyst predicted.
Michelle Applebaum Research noted that figures from the Import Administration’s Steel Import Monitoring and Analysis System showed that steel import licenses for August retreated by nearly 10% to 3.5 million mt compared with July licenses covering 3.9 million mt and actual preliminary import tonnage of 3.8 million mt.
MAR said that lower import levels would continue in September “as late first-quarter pricing parity between domestic and foreign steel will be reflected in the amount of steel coming into the US in coming months.” But MAR said that it would caution that the import respite may be temporary as quotations for Q1 2007 delivery were beginning to appear in the marketplace.

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