Imports of Stainless Steel Sheet and Strip Set Record

Stainless steel sheet and strip imports rose to a record level in August in spite of the Administration’s import restraint program, a trade group said Thursday.

The Specialty Steel Industry of the United States said the Commerce Department’s figures show that imports of the products climbed to 13,424 tons in August from 10,490 tons in the previous month. Imports averaged 8,702 tons a month during the first seven months of the year.

In the first eight months this year, total imports of stainless steel and strip from all nations declined to 74,337 tons from 94,359 tons in the same period of 1984.

But Richard P. Simmons, chairman of the industry’s task force on flat-rolled steel, pointed out that some countries have raised their exports to the United States in 1985.

1984 Imports Up 64%

“By increasing import tonnage over last year’s record levels, Britain, Japan, Italy and other countries are making a mockery of President Reagan’s program,” said Simmons, who is also chief executive of Allegheny Ludlum Steel Corp.

In 1984, the first full year of Reagan’s program, stainless sheet and strip imports increased 64% over 1983. Britain increased shipments of these products by 242% to 4,454 tons in the first eight months of 1984 from 1,302 tons in the same period of 1984.

“Italy has bitten off another 4% so far this year, coming on top of a 40% increase in 1984,” Simmons said. “It is clear that Britain and Italy are continuing to increase shipments to the United States in anticipation of limits which may come out of the current negotiations. They are using this period to build position as part of a long-range agenda.”

The United States is currently conducting negotiations covering stainless and strip with European nations, he said.

Japan shipped 3,360 tons of the products in August, compared to 2,177 tons in July. For the first eight months of 1985, Japanese imports totaled 21,490 tons, a 3.5% increase over 1984. Overall in 1984, imports from Japan were 31,576 tons, up 41% from 1983.

“This astonishing record comes in spite of the Administration’s steel trade agreement with Japan in May, 1985, which should have cut stainless steel sheet and strip imports by about 20%. Instead, they have gone the other way,” Simmons said.