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Based on preliminary Census Bureau data, the American Iron and Steel Institute (AISI) reported that the U.S. imported a total of 2,718,000 net tons (NT) of steel in November 2017, including 2,126,000 NT of finished steel (down 14.6 percent and 16.8, respectively, vs. October final data). Year-to-date (YTD) through eleven months of 2017, total and finished steel imports are 35,632,000 and 27,637,000 NT, up 17.5 percent and 14.3 percent, respectively, vs. the same period in 2016.

The Institute of Scrap Recycling Industries (ISRI) applauded the decision by the U.S. Mint to resume the Mutilated Coin Redemption Program after a nearly three-year suspension. The program is worth millions of dollars to the recycling industry which recovers coins left in end-of-life products turned over for scrap processing.

Schnitzer Steel Industries, Inc. reported results for its first quarter of fiscal 2018 ended November 30, 2017. The company reported earnings per share from continuing operations of $0.64 and adjusted earnings per share of $0.63, both of which include an adverse impact of $0.14 per share related to a legacy environmental liability of $4 million. These results compare to fourth quarter fiscal 2017 earnings per share from continuing operations of $0.65 and adjusted earnings per share of $0.63, and the prior year first quarter loss per share from continuing operations of $0.05 and adjusted loss per share of $0.03.

Based on preliminary Census Bureau data, the American Iron and Steel Institute (AISI) reported that the U.S. imported a total of 3,119,000 net tons (NT) of steel in October 2017, including 2,493,000 net tons (NT) of finished steel (unchanged and down 0.4 percent, respectively, vs. September final data). Year-to-date (YTD) through ten months of 2017, total and finished steel imports are 32,850,000 and 25,449,000 NT, up 19.4 percent and 15.4 percent respectively, vs. the same period in 2016. Finished steel import market share was an estimated 27 percent in October and is estimated at 28 percent YTD.

Nucor Corporation will build a rebar micro mill in Sedalia, Missouri, about 90 miles east of Kansas City. Following its approval by the Missouri Development Finance Board, the project was formally announced at an event with Governor Eric Greitens held at Lowell Mohler Assembly Hall.