The American Iron and Steel Institute (AISI) reports that the U.S. imported 3,293,000 net tons of steel in May. Year-to-date imports are 22% higher than the same period of 1999 and almost 16% higher than in 1998, which was a “crisis year.” When annualized, this equates to a 40.4 million-ton year, or only slightly less than the record 41.5 million net tons imported in 1998.

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