Steel Imports Climb in March

Precision Metalforming Association (PMA) President William E. Gaskin pointed to March's increase in steel imports as evidence that the U.S. manufacturing sector is beginning to show signs of protracted recovery. According to preliminary data issued by the Department of Commerce (DOC), total steel imports increased 33% from about 1.7 million metric tons in February 2011, the third lowest monthly import total since the beginning of 2010, to about 2.2 million metric tons in March 2011, the highest monthly import total since the beginning of 2010.

Imports of hot-rolled steel – the product used most often by metalformers – rose 29% from February, reaching 198,932 metric tons in March. Cold-rolled imports were up 75% in March from 80,881 metric tons in February to 141,506 metric tons in March.

"The surge in imports this month is indicative of continued growth in manufacturing and a rebound in the metalforming industry," Gaskin said. "While supply chain disruptions resulting from the Japanese earthquake are significantly impacting production in the automotive sector, we are in an environment where continued growth of imports would be expected. Imports are slowly returning to pre-recessionary levels, up 21% from 2010 levels and 59% from 2009 levels."

"Sustained recovery for the manufacturing sector is far from certain,” Gaskin continued. “We need our elected officials to enact policies which will help restore our global competitiveness. We applaud last month's passage of the Small Business Paperwork Mandate Elimination Act of 2011, which eliminated the onerous requirement for 1099 filings stemming from a provision of the 2010 health care bill that would have been especially burdensome for small businesses. We ask that Congress continue to focus on eliminating barriers for job creation and growth in order to ensure that America's manufacturing sector can recover and prosper."

PMA is the full-service trade association representing the $113-billion metalforming industry of North America—the industry that creates precision metal products using stamping, fabricating, spinning, slide forming and roll forming technologies, and other value-added processes. Its nearly 1,000 member companies also include suppliers of equipment, materials and services to the industry. PMA leads innovative member companies toward superior competitiveness and profitability through advocacy, networking, statistics, the PMA Educational Foundation, METALFORM tradeshows and MetalForming magazine.

For more information visit: www.pma.org

Read 1821 times

Rate this item
(1 Vote)

Copyright © 2018 Prototype Today ®. All rights reserved.

|   Privacy Policy |   Terms & Conditions |   Contact Us |

All trademarks and registered trademarks are the property of their respective owners.

Additive Manufacturing Today