Steel imports increased sharply in January.
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U.S. industries imported 1.7 million tons of steel during January, a 10.2% rise from December but a drop of 4.1% from January, 1986, the American Institute for Imported Steel reported. Imports were 1.5 million tons in December and 1.8 million tons in January of last year. The decrease from the same period last year indicates federal steel import quotas are working, said Erwin L. Klein, president of the importers’ trade group. However, another trade group notes that imports still accounted for 23.9% of the steel on the American market during January, compared to a 20.2% goal set by the federal import restraint program.
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