Kevin Dempsey, interim president and CEO of the American Iron and Steel Institute (AISI), this week made the following statement regarding the announcement by the Administration concerning trade negotiations with Brazil and Mexico on steel.
“We appreciate the efforts of the Administration to address steel import issues affecting American producers during this difficult time when the market for steel has declined significantly due to COVID-19. While we are seeing some modest recent improvement in market conditions, the industry continues to face significant challenges due to the sharp drop in demand this year as a result of the pandemic. So far in 2020, raw steel production is down 20 percent compared to the same period last year and steelmaking capacity utilization has only averaged approximately 66 percent this year so far, compared to nearly 81 percent during the same period last year. These difficult conditions make the industry even more vulnerable to surges in imports. We are grateful to the president and his team for their ongoing commitment to working with the steel industry to tackle the trade challenges facing the industry.”
source: AISI |
