U.S. Secretary of Commerce Penny Pritzker today released a new series of reports detailing current steel trade flows involving the world’s top importing and exporting countries. The initial release from the Department’s International Trade Administration is comprised of 20 country-specific reports and a global summary that provides U.S. businesses with updated market intelligence. These reports serve as the basis for a new Global Steel Trade Monitor that will be fully implemented in 2017.
“The Obama Administration understands the impact of unfair trade practices on our steel industry, and has taken strong action to mitigate the effects of global excess capacity on our businesses, our communities, and our workers,” said Secretary Pritzker. “The reports we are releasing today are in direct response to our industry’s desire for more comprehensive and transparent information about global steel trade trends, which will strengthen our companies and our government’s ability to address challenges facing this critical sector.” “The Global Steel Monitor significantly enhances the scope of the Department's monitoring and analysis of the steel sector, and confirms our commitment to provide the public with relevant trade data in this key industry,” said Assistant Secretary for Enforcement and Compliance Paul Piquado. “These new reports provide parties with an additional tool to analyze the market.” These reports mark the first phase of Commerce’s expanded global steel trade monitoring and analysis efforts that will comprise the new Global Steel Trade Monitor, due to be fully implemented in 2017.
In the coming weeks, the Department intends to release another group of reports covering the 10 next-largest steel-importing and exporting countries. Ultimately, the entire series of reports will be updated on a quarterly basis to reflect the latest data and market trends.
The enhanced Global Steel Trade Monitor offers new data and functionality in two important ways: * The Monitor defines steel products consistently across countries and features graphical and data components. This will allow users to compare markets and objectively evaluate and react to market trends.
* The reports will offer broad global steel data to inform the public about current trends in steel trade flows.
Today’s reports are available at http://trade.gov/steel/global-monitor.asp. For additional information, please e-mail ECGlobalSteelStats@trade.gov.
Source: U.S. Department of Commerce
