Steel Imports Decrease in December; Trump Orders Regulations Cut

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Based on preliminary Census Bureau data, the American Iron and Steel Institute (AISI) reported that the U.S. imported a total of 2,686,000 net tons of steel in December 2016, including 2,146,000 net tons nt of finished steel (down 4.3% and up 0.6%, respectively, vs. November final data).

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For the full year of 2016, total and finished steel imports are 33,009,000 and 26,327,000 nt, down 14.9% and 16.4%, respectively, compared to full year 2015. Finished steel import market share was an estimated 26% in December and is estimated at 26% for full year 2016.

Key finished steel products with significant import increases in December compared to November include oil country goods (up 55%), line pipe (up 38%), sheets and strip all other metallic-coated products (up 27%), tin plate (up 24%), sheets and strip hot-dipped galvanized (up 14%) and hot-rolled bars (up 11%). Tin plate (up 15%) had a significant increase in 2016 vs. the prior year.

Trump Signs Order Mandating Regulations Be Cut

President Donald Trump signed an executive order Monday morning requiring that for every new federal regulation implemented, two must be rescinded.

“This will be the biggest such act that our country has ever seen,” Trump declared moments before signing it in the Oval Office. “There will be regulation, there will be control, but it will be a normalized control where you can open your business and expand your business very easily. And that’s what our country has been all about.”

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The executive order signing, which fulfills a campaign pledge, comes after the president held a listening session with small-business leaders.

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