Steel imports clobber U.S. industry in '98

Article Abstract:

Imports during the 2nd half of 1998 weakened the US steel industry's shipments, prices and profits, which have been performing well during the first half of the year. The rise in US imports mostly occurred during the 2nd and 3rd qtrs 1998 as exports from crisis-stricken nations such as Asia, Russia and Latin America increased. Other factors that contributed to the industry's lower revenues and flat profits are the entry of Wheeling Pittsburgh Steel Corp into the market and the strike at General Motors Corp. The decline in prices and profits is expected to continue through 1999.

Raw Steel

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Steel industry weakness persists in early '99

Article Abstract:

The US steel industry continued to falter in the 1st qtr 1999 due to falling sales, profits, prices, and higher imports, a trend which started in 1998. In 1998, domestic industry shipments amounted to 102.1 million tons, compared to 105.5 million tons in 1997. Imports increased to an all-time high of 41.5 million tons in 1998, compared to 31.2 million in 1997. The rise in import sales in 1998 boosted the inventory levels of both distributors and manufacturers, resulting in a substantial loss for the 1st qtr of 1999.

Steel Mill Products, Steel products, Metals

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Economic trends drive metals

Article Abstract:

The main factors affecting the industrial metals industry include economic growth, foreign competition and new manufacturing technologies. The industry mostly consists of steel and aluminum manufacturers and is capital-intensive, cyclical in nature and heavily regulated. The key industry statistics include automobile sales and production and the value of new construction. The elements to be considered in analyzing an aluminum or steel company include its product mix, shipment volume, market share and cost controls.

Aluminum industry

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