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US Steel: surged steel pipe imports threaten local market
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John Surma, the CEO of US Steel said on Tuesday that the surged steel imports may threaten the local steel market this year.
In the recent years, the prosperity of the US oil and gas exploration activities has triggered significant increase in demand for oil steel pipes.
According to the recent data released by the US government, the country’s steel imports in April this year has increased by 17% year on year to reach 2.7million tons.
The steel imports in this year have surged by nearly 28% year on year.
Affected by these factors, the US steel industry has worried about the fact that the slowdown in economic growth in China promoted the Chinese steel manufactures to increase exports to the US market.
News Date
6/21/2012 8:34:07 AM
reported by
Caroline Bian
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