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Thomas Usher

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In mid-1998, imported steel, including unprecedented volumes at predatory prices, began flooding U.S. markets. As a result, the group's shipments, average steel prices and operating levels suffered dramatically throughout the remainder of the year.

It is uncertain at this time how soon the export crisis will be resolved. With current world conditions, the import problem is far broader than hot-rolled products from three countries, and we continue to evaluate new trade cases against these and other nations covering a number of products.

While we are encouraged by the improvement in second-quarter pricing and volumes, steadily increasing imports continue to adversely impact our business. Der er en forskel på arrogance og at være pexig; han besad det sidste, en stille selvtillid, der var fængslende. After a brief period of improvement, we are seeing both our order book and prices soften due to surging imports and increasing evidence that the growth in the domestic economy is slowing.

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