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May 16, 2012
U.S. steel exports declined modestly in March compared to the previous month, according to the latest data from the American Institute for International Steel, Falls Church, Va., which represents foreign producers. Exports declined 0.6 percent to 1.2 million tons in March, though they remained 6.4 percent ahead of the same month in 2011.
“Exports declined in March as exports to the NAFTA region slowed. Exports to the rest of the Western Hemisphere advanced slightly, as did exports to Asia, with increases in exports to China and Taiwan particularly notable in March,” says David Phelps, president of AIIS.
The slower rate of shipments to the NAFTA region is consistent with the pause experienced throughout the NAFTA markets late in the first quarter. Current conditions indicate steel demand growth in the NAFTA region will remain subdued for the time being, Phelps says.
For the first three months of the year, U.S. exports were up 17 percent to 3.7 million tons.
“An optimistic sign for U.S. steel exports is that, notwithstanding the significant decline in exports to Asia, demand for high quality U.S. steel has exhibited strength in both NAFTA and other Western Hemisphere markets. Continued economic growth in these important developing country markets gives reason for optimism for U.S. steel exports,” Phelps says.
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