b'1.5 Steel: By the numbersITAnumberssuggestdeclines,andreversaloftradedeficitreductions brought on by tariffsAccordingtothelatestreportfromthedomesticsteelpriceshavebeenonthe InternationalTradeAdministration(ITA),downslide.U.S.domesticpricesforhot-Peter Buxbaum, AJOT August 2019 steel imports were down butrolled band in September 2019 were down This article was originally published on November 25, 2019 in issue #698 license data suggests the October numbers34.5% from last year; for cold-rolled coil, will show a significant increase in imports.theyweredown21.5%;andforstandard Year-to-date through August, U.S. steel im- plate they were down by 22.2% from a year ports were 18.8 million metric tons, a 13.4%ago.decrease from 21.7 million metric tons last year.Invalueterms,importsdecreasedUS steel production decreased by 0.3% to 15.7% to $17.4 billion from $20.6 billion.7.4 million metric tons in August compared to the month before, marking a 1.1% decline Brazil accounted for the largest share offrom the August 2018 production level. Ca-U.S. imports by country so far this year atpacity utilization decreased in August 2019 18%, followed by Canada, at 16.7%, andby 0.3% from the month before as well as Mexico,at11.1%. TheU.S.imported6.3from one year ago and down 1.1% from five million metric tons of flat products so far thisyears ago. By November it was up slightly. year, accounting for 33.8% of total steel im-ports, the largest category of steel productThoughcapacityutilizationhasin-imported.Thiswasfollowedbysemi-fin- creased 38.3% points from the thirteen-year ishedproductsat25.9%andpipesandlow reached in April 2009, the ITA report tubes at 22.4%. noted, it remains well below the prereces-sion historical averages.U.S. steel exports have remained relative-ly flat for the past nine years, according toSteel demand in August 2019 decreased the ITA. Compared to the trade balance onetwo percent from a year ago and six percent year ago, the August 2019 steel trade gapfrom five years ago. Steel demand in 2018 has narrowed by 42.7%. amountedto100.9millionmetrictons,a one-percent increase from 99.7 million met-Compared with August 2018, August 2019ric tons in 2017.exports were up 0.6% by volume and down 19.8% from three years ago.The U.S. steel industry posted a combined netincomeof$472millioninthethird In terms of NAFTA trade, total steel im- quarter of 2019, with five out of six compa-portsintotheU.S.,Canada,andMexiconies tracked by the ITA reporting quarterly decreased 12% this year, while intra-Northgains. Nucor reported the highest quarterly Americasteelimportsandexportshavenet profit at $275 million, followed by Steel been on the rise. Imports among the threeDynamicsat$151million,Commercial countries account for a 38.3% share of to- Metals Company at $86 million, Carpenter tal NAFTA steel imports so far this year, fol- Technology at $41 million, and AK Steel at lowedbyBrazilssharewith13.7%,and$2.8 million. U.S. Steel reported quarterly South Korea, at 8.6%. net loss of $84 million.After peaking in the third quarter of 2018, 14 THE UNCONTAINED www.theuncontained.com'