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US steel import license applications soar in Jan.
February 02, 2012 - 02:18 GMT
Location:
New York
KEYWORDS:
steel imports
,
Commerce Department
,
import license applications
,
rebar
,
semifinished steel
U.S. steel import license applications jumped nearly 35 percent in January due to competitive pricing overseas, putting imports on course to register their biggest month-on-month gain in at least more than a year.
Traders and buyers have said in recent weeks that competitive foreign prices and uncertain U.S. price hikes have opened a small window of opportunity for imports.
Much of the gain came in semifinished steel, led by a sharp increase in license applications for product from Russia to 173,556 tonnes vs. preliminary imports of...
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Euromoney Institutional Investor PLC.
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