Jan. 22, 2014
Steel Exports Down in November
Steel exports declined in November by 17.1 percent compared to October, according to government reporting and the American Institute for International Steel, Falls Church, Va. Exports of 939,100 tons in November also declined 5.9 percent compared to the same month in 2012.
"The large decline in steel exports in November was primarily due to the sharp drop in exports to our NAFTA partners. The U.S. steel market in November also registered a large drop in domestic shipments, according to trade reports, down 8 percent compared to October. The data for November reflect market conditions during that period prior to improvements in pricing late in the year," says Richard Chriss, executive director of the trade group representing foreign mills.
For the year to date, U.S. exports of 11.8 million tons were down 7.5 percent.
"The NAFTA and offshore markets remained softer in 2013 than in 2012. While the NAFTA market's decline represents the bulk of the decline, we also have to be concerned about the 26.5 percent reduction in shipments to the other Western Hemisphere markets, which are our second-largest export destination, with the most potential for American-made steel," Chriss says.