FACT SHEET

STEEL IMPORTS FOR August 2004
INCREASED 9 PERCENT FROM July 2004

September 28, 2004

Newly released preliminary government figures covering steel imports for the month of August 2004 show that steel imports increased 9 percent from July 2004 levels.

Total Steel Mill Products

The preliminary data released today show that overall steel imports in August 2004 increased 9 percent compared to July 2004. The increase in August=s total amount of steel imports was due primarily to a decrease in imports of blooms, billets and slabs, reinforcing bars, standard pipe, and hot-rolled sheets. August 2004 imports of semi-finished steel products increased 24 percent compared to July 2004, and imports of hot-rolled steel increased by 9 percent.

August 2004 imports of steel mill products were up 95 percent compared to August 2003. August 2004 imports of finished steel were up 92 percent compared to August 2003, while semi-finished steel products were up 112 percent compared to August 2003. January to August 2004 imports of steel mill products were up 40 percent compared to the same period in 2003. January to August 2004 imports of finished steel were up 40 percent compared to the same period last year, while imports of semi-finished steel were up 42 percent.

Hot Rolled Steel

August 2004 imports of hot rolled steel increased 9 percent from their July 2004 levels and were up 185 percent compared to August 2003 levels. January to August 2004 imports of hot-rolled steel were up 49 percent compared to the same period last year.

Cold Rolled Steel

August 2004 imports of cold rolled steel were up 18 percent compared to July 2004 levels and were up 186 percent compared to August 2003 levels. January to August 2004 imports of cold-rolled steel were up 43 percent compared to the same period last year.

Cut to Length Plate

August 2004 imports of cut to length plate decreased 4 percent compared to July 2004. August 2004 imports were up 137 percent compared to August 2003. January to August 2004 imports of cut-to-length plate were up 44 percent compared to the same period last year.

Corrosion-Resistant Steel

August 2004 imports of corrosion-resistant steel increased 5 percent compared to July 2004. August 2004 imports of these products were up 189 percent compared to August 2003. January to August 2004 imports of corrosion-resistant steel were up 38 percent compared to the same period last year.

Wire Rod

August 2004 imports of wire rod decreased 15 percent compared to July 2004 levels, and were up 64 percent compared to August 2003 levels. January to August 2004 imports of wire rod were up 73 percent compared to the same period last year.

Heavy Structurals

August 2004 imports of heavy structurals decreased 2 percent from their July 2004 level and were down 19 percent compared to August 2003 levels. January to August 2004 imports of heavy structurals were up 23 percent compared to the same period last year.

Rebar

August 2004 imports of rebar were up 17 percent compared to July 2004. August 2003 imports of these products were up 101 percent compared to August 2003. January to August 2004 imports of rebar were up 104 percent compared to the same period last year.

Hot-Rolled Bar

August 2004 imports of hot-rolled bar were down 4 percent compared to July 2004 and were up 24 percent compared to August 2003 levels. January to August 2004 imports of hot-rolled bar were up17 percent compared to the same period last year.

Standard Pipe

August 2004 imports of standard pipe increased 43 percent compared to July 2004. August 2004 imports of these products were up 94 percent compared to August 2003, and January to August 2004 imports of standard pipe were up 32 percent compared to the same period last year.

Oil Country Tubular Goods (OCTG)

August 2004 imports of OCTG decreased 19 percent compared to July 2004. August 2004 imports of these products were up 28 percent compared to August 2003. January to August 2004 imports of OCTG were up 40 percent compared to the same period last year.

Semi-Finished Steel

August 2004 imports of semi-finished steel increased 24 percent compared to July 2004 and were up 112 percent compared to August 2003 levels. January to August 2004 imports of semi-finished steel were up 42 percent compared to the same period last year.

EXPANDED BREAKOUT BY GRADE

Since May 2001 the U.S. Census Bureau (Census) expanded its early release of steel import data to include separate breakouts for carbon, alloy and stainless steel in each of the product categories. The following lists some of the highlights from these new breakouts:

Carbon Steel

Overall imports of carbon steel products in August 2004 increased 9 percent from their July 2004 levels and were up 110 percent compared to August 2003 levels. January to August 2004 imports of these products were up 48 percent compared to the same period last year.

Carbon Hot-Rolled Steel - Imports of carbon hot-rolled steel in August 2004 increased 8 percent compared to July 2004 and were up 197 percent compared to August 2003 levels. January to August imports of these products were up 49 percent compared to the same period last year.

Carbon Cold-Rolled Steel - Imports of carbon cold-rolled steel in August 2004 increased 19 percent compared to July 2004. August 2004 imports were up 253 percent compared to August 2003. January to August imports of these products were up 52 percent compared to the same period last year.

Alloy Steel

Overall imports of alloy steel products in August 2004 increased 13 percent compared to July 2004 and were up 31 percent compared to August 2003 levels. January to August 2004 imports of these products were up 8 percent compared to the same period last year.

Tool Steel - Imports of tool steel in August 2004 increased 3 percent compared to July 2004. August 2004 imports were up slightly by 0.2 percent compared to August 2003. January to August imports of these products were down 11 percent compared to the same period last year.

Stainless Steel

Overall imports of stainless steel products in August 2004 decreased 12 percent from their July 2004 level and were up 32 percent compared to August 2003 levels. January to August 2004 imports of these products were up 17 percent compared to the same period last year.

Stainless Hot-Rolled Steel - Imports of stainless hot-rolled steel in August 2004 increased 33 percent compared to July 2004. August 2004 imports were up 88 percent compared to August 2003. January to August imports of these products were up 73 percent compared to the same period last year.

Stainless Cold-Rolled Steel - Imports of stainless cold-rolled steel in August 2004 decreased 1 percent compared to July 2004. August 2004 imports were up 49 percent compared to August 2003. January to August imports of these products were up 23 percent compared to the same period last year.

Stainless Hot-Rolled Bars - Imports of stainless hot-rolled bars in August 2004 decreased 10 percent compared to July 2004 and were up 39 percent compared to August 2003 levels. January to August imports of these products were up 49 percent compared to the same period last year.

Stainless Cold-Finished Bars - Imports of stainless cold-finished bars in August 2004 increased 14 percent compared to July 2004. August 2004 imports were up 84 percent compared to August 2003. January to August imports of these products were up 4 percent compared to the same period last year.

These figures are being provided on an expedited basis and will continue to be released on this schedule each month. The data released today are preliminary and are likely to change somewhat between now and the release of the final August statistics next month. September 2004 preliminary figures will be released on October 26, 2004.