Steel Imports Rise: Although steel imports increased...

Steel Imports Rise: Although steel imports increased to 1.47 million tons in May, up 10% from April, they remained well below the level of a year earlier, according to an industry association. Imports for the first five months of the year were down dramatically, the American Iron & Steel Institute said. Import tonnage for the first five months totaled 7.15 million tons, down 21% from January through May, 1988, the institute said. Foreign steel represented 17.1% of the market in the first five months of this year, down from 20.7% in the 1988 period. The May tonnage represented 17.2% of the apparent supply in the U.S. market, compared to 16.4% in April and 21.5% in May, 1988.