FACT SHEET

STEEL IMPORTS FOR FEBRUARY 2004
DECREASED 17.7 PERCENT FROM JANUARY 2004

March 30, 2004

Newly released preliminary government figures covering steel imports for the month of February 2004 show that steel imports decreased 17.7 percent from January 2004 levels.

Total Steel Mill Products

The preliminary data released today show that overall steel imports in February 2004 decreased 17.7 percent compared to January 2004. The decrease in February's total amount of steel imports was due primarily to a decrease in imports of blooms, billets, and slabs. February 2004 imports of finished steel products decreased 10.4 percent compared to January 2004, while imports of semi-finished steel decreased 36.7 percent.

February 2004 imports of steel mill products were up 15.2 percent compared to February 2003. February 2004 imports of finished steel were up 9.8 percent compared to February 2003, and semi-finished steel products were up 41.2 percent compared to February 2003. January to February 2004 imports of steel mill products were up 2.4 percent compared to the same period in 2003. January to February 2004 imports of finished steel were down 3.8 percent compared to the same period last year, while imports of semi-finished steel up 27.3 percent.

Hot-Rolled Steel

February 2004 imports of hot-rolled steel decreased 19.6 percent from their January 2004 levels and down 10.6 percent compared to February 2003 levels. January to February 2004 imports of hot-rolled steel were down 28.4 percent compared to the same period last year.

Cold-Rolled Steel

February 2004 imports of cold-rolled steel decreased 3.0 percent compared to January 2004 levels and decreased 30.0 percent compared to February 2003 levels. January to February 2004 imports of cold-rolled steel decreased 34.5 percent compared to the same period last year.

Cut-to-Length Plate

February 2004 imports of cut-to-length plate increased 3.3 percent compared to January 2004. February 2004 imports increased 30.7 percent compared to February 2003. January to February 2004 imports of cut-to-length plate increased 8.1 percent compared to the same period last year.

Corrosion-Resistant Steel

February 2004 imports of corrosion-resistant steel increased 7.2 percent compared to January 2004. February 2004 imports of these products decreased 41.8 percent compared to February 2003. January to February 2004 imports of corrosion-resistant steel decreased 50.3 percent compared to the same period last year.

Wire Rod

February 2004 imports of wire rod decreased 26.6 percent compared to January 2004 levels and increased 168.9 percent compared to February 2003 levels. January to February 2004 imports of wire rod increased 103.8 percent compared to the same period last year.

Heavy Structurals

February 2004 imports of heavy structurals increased 59.8 percent from their January 2004 level and were up 111.2 percent compared to February 2003 levels. January to February 2004 imports of heavy structurals were up 31.7 percent compared to the same period last year.

Rebar

February 2004 imports of rebar increased 22.2 percent compared to January 2004. February 2004 imports of these products increased 108.0 percent compared to February 2003. January to February 2004 imports of rebar increased 33.2 percent compared to the same period last year.

Hot-Rolled Bar

February 2004 imports of hot-rolled bar decreased 22.3 percent compared to January 2004 and increased 14.1 percent compared to February 2003 levels. January to February 2004 imports of hot-rolled bar increased 3.2 percent compared to the same period last year.

Standard Pipe

February 2004 imports of standard pipe increased 3.0 percent compared to January 2004. February 2004 imports of these products decreased 11.2 percent compared to February 2003, and January to February 2004 imports of standard pipe increased 1.8 percent compared to the same period last year.

Oil Country Tubular Goods (OCTG)

February 2004 imports of OCTG decreased 51.5 percent compared to January 2004. February 2004 imports of these products increased 8.3 percent compared to February 2003. January to February 2004 imports of OCTG were up 84.2 percent compared to the same period last year.

Semi-Finished Steel

February 2004 imports of semi-finished steel decreased 36.7 percent compared to January 2004 and increased 41.2 percent compared to February 2003 levels. January to February 2004 imports of semi-finished steel increased 27.3 percent compared to the same period last year. Imports of these products are used by U.S. steel companies to produce finished products.

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 February 2004 decreased 19.9 percent from their January 2004 levels and increased 17.5 percent compared to February 2003 levels. January to February 2004 imports of these products increased 2.6 percent compared to the same period last year.

Carbon Hot-Rolled Steel - Imports of carbon hot-rolled steel in February 2004 decreased 20.1 percent compared to January 2004 and decreased 13.8 percent compared to February 2003 levels. January to February 2004 imports of these products were down 30.6 percent compared to the same period last year.

Carbon Cold-Rolled Steel - Imports of carbon cold-rolled steel in February 2004 decreased 4.0 percent compared to January 2004. February 2004 imports decreased 33.2 percent compared to February 2003. January to February 2004 imports of these products decreased 41.2 percent compared to the same period last year.

Alloy Steel

Overall imports of alloy steel products in February 2004 decreased 10.4 percent compared to January 2004 and increased 5.3 percent compared to February 2003 levels. January to February 2004 imports of these products increased 2.2 percent compared to the same period last year.

Tool Steel - Imports of tool steel in February 2004 decreased 9.6 percent compared to January 2004. February 2004 imports decreased 23.7 percent compared to February 2003. January to February 2004 imports of these products were down 17.6 percent compared to the same period last year.

Stainless Steel

Overall imports of stainless steel products in February 2004 increased 18.9 percent from their January 2004 level and increased 7.4 percent compared to February 2003 levels. January to February 2004 imports of these products decreased 1.6 percent compared to the same period last year.

Stainless Hot-Rolled Steel - Imports of stainless hot-rolled steel in February 2004 increased 99.9 percent compared to January 2004. February 2004 imports increased 59.7 percent compared to February 2003. January to February 2004 imports of these products increased 30.4 percent compared to the same period last year.

Stainless Cold-Rolled Steel - Imports of stainless cold-rolled steel in February 2004 increased 16.7 percent compared to January 2004. February 2004 imports increased 8.0 percent compared to February 2003. January to February 2004 imports of these products increased 4.4 percent compared to the same period last year.

Stainless Hot-Rolled Bars - Imports of stainless hot-rolled bars in February 2004 increased 92.8 percent compared to January 2004 and were up 61.3 percent compared to February 2003 levels. January to February 2004 imports of these products increased 14.6 percent compared to the same period last year.

Stainless Cold-Finished Bars - Imports of stainless cold-finished bars in February 2004 decreased 18.3 percent compared to January 2004. February 2004 imports were down 22.6 percent compared to February 2003. January to February 2004 imports of these products were down 30.3 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 February statistics next month. March 2004 preliminary figures will be released on April 27, 2004.