Washington, D.C. – The Steel Manufacturers Association (SMA) commented on today’s filing of a trade petition that targets hot-rolled coil imports from steel producers in Australia, Brazil, Japan, South Korea, the Netherlands, Turkey, and the United Kingdom.
“Hot-rolled coil imports have significantly increased and have remained at high levels throughout 2015. This has had a negative impact on U.S. steel producers, the workforce, and the surrounding communities where these mills operate” said Philip K. Bell, president of the SMA. “Domestic capacity utilization rates remain artificially low; this has strained industry profitability and has forced many producers to adjust their employment levels” said Bell.
“Global steelmaking overcapacity remains a massive problem, and the U.S. market has been subjected to increased imports from several nations across a wide range of products. In light of the data that is available, it is of little surprise that some U.S. producers have availed themselves of the nation’s trade laws. I am now hopeful that the laws will be properly enforced” said Bell.
SMA is the primary trade association for North American electric arc furnace steel producers. SMA’s 30 member companies account for over seventy-five percent of total domestic steel production. For more information, please visit the SMA’s website: www.steelnet.org.