US steel companies seek focus on domestic producers

February 12, 2009: Steelmakers in the US have demanded a 'Buy America' provision in the final economic stimulus bill to be sent to President Barack Obama.

An American Iron & Steel Institute (AISI) report noted that Canada and the European Union were also closely following the fate of the Buy American plan, which would give preference to domestic steel companies.

According to AISI, "Procurement of competitively priced steel products and specialty metals from competitive domestic sources will not cost the US taxpayer more." Only US-made iron and steel will be used by all public works projects funded by the stimulus bill. However, the provisions have been amended so that they do not hinder international agreements.

However, this will only help those who have reciprocal government procurement agreements with the US and not the likes of China, India, Brazil and Russia, which do not, the report added.

Source: Steel Insights Bureau