ISRI has testified at a U.S. Trade Representative/U.S. Department of Commerce Hearing

Department of Commerce hearing, Policy Recommendations on the Global Steel Industry Situation and Impact on U.S. Steel Industry and Market. The two-day hearing featuring nine panels is related to the global steel industry situation and its impact on the U.S. steel industry and related industries, including the U.S. ferrous scrap industry. Recycled iron and steel products, also known as ferrous scrap, is by far the largest recycled commodity group processed by our industry, with scrap recyclers who are located in every congressional district typically processing between 70-75 million tons of ferrous scrap annually. The United States is by far our industry’s most important market. In 2015, just over 80 percent of all the ferrous scrap processed by our industry was consumed by the U.S. steel industry. In turn, U.S. steel mills heavily depend on ferrous scrap as a vital raw material input, with scrap supplying 60-70 percent of steel mills feedstock in recent years. Lastly, ISRI thanks the U.S. Trade Representative and the Department of Commerce for taking timely action to understand and address the difficult global impacts on the U.S. steel and scrap recycling industries and ISRI is committed to assisting our government agencies on this and other pressing trade issues going forward. Read entire article here: