AIIS: U.S. Steel Exports Fall for First Time in Three Months
07/09/2014 - Steel exports in May 2013 fell for the first time in three months, the American Institute for International Steel (AIIS) reported.
The United States exported 1.04 million tons of steel in May, 4.1% below April exports and 10.9% less than the May 2013 level. Exports had increased by 3.8% in April and 15% in March.
Exports to the U.S.’ two major steel trading partners — Canada and Mexico — were down only slightly to 559,231 tons and 363,325 tons, respectively. A 75% drop in exports to the Dominican Republic — which had spiked in April — to 6,077 tons accounted for two-fifths of the overall decline. Exports to the European Union fell nearly 19% to 28,387 tons.
For the year, exports are down 7.3% to 5,022,282 tons. Canada has accounted for more than a quarter of the decrease in tonnage, with exports north of the border falling 3.7 percent. Exports to the EU through May are 22% lower than they were during the same time last year, while exports to Mexico are up 1.4% year-to-date. Not including the multi-nation EU, China has been the third-largest recipient of U.S. steel for the year, with exports up more than 30% over the first five months of 2013. Notwithstanding the significant drop in May, the Dominican Republic has been the fourth-largest recipient, though its year-to-date total is almost 54% lower than it was a year ago.
A 4% monthly drop in exports should not alarm anybody, especially when nearly half of the decrease can be tied to economic variables in a single small nation – the Dominican Republic. While the year-to-date decline is more significant, this reflects early 2014 numbers that were dampened by harsh winter weather. With the U.S., Canada, Europe and the rest of the Northern Hemisphere now into the summer construction season, we are likely to see overall steel use increase, a trend that could push up both exports and imports.
Total steel exports in May 2014 were 1.035 million tons compared to 1.080 million tons in April 2014, a 4.1% decrease, and a 10.9 %% decrease compared to May 2013. According to year-to-date figures, exports decreased 7.3% compared to 2013, or from 5.418 million tons in 2013 to 5.022 million tons in 2014.
The American Institute for International Steel is the only steel-related association that supports free trade. The Institute accomplishes its mission through advocacy, networking, communications, and education.
Exports to the U.S.’ two major steel trading partners — Canada and Mexico — were down only slightly to 559,231 tons and 363,325 tons, respectively. A 75% drop in exports to the Dominican Republic — which had spiked in April — to 6,077 tons accounted for two-fifths of the overall decline. Exports to the European Union fell nearly 19% to 28,387 tons.
For the year, exports are down 7.3% to 5,022,282 tons. Canada has accounted for more than a quarter of the decrease in tonnage, with exports north of the border falling 3.7 percent. Exports to the EU through May are 22% lower than they were during the same time last year, while exports to Mexico are up 1.4% year-to-date. Not including the multi-nation EU, China has been the third-largest recipient of U.S. steel for the year, with exports up more than 30% over the first five months of 2013. Notwithstanding the significant drop in May, the Dominican Republic has been the fourth-largest recipient, though its year-to-date total is almost 54% lower than it was a year ago.
A 4% monthly drop in exports should not alarm anybody, especially when nearly half of the decrease can be tied to economic variables in a single small nation – the Dominican Republic. While the year-to-date decline is more significant, this reflects early 2014 numbers that were dampened by harsh winter weather. With the U.S., Canada, Europe and the rest of the Northern Hemisphere now into the summer construction season, we are likely to see overall steel use increase, a trend that could push up both exports and imports.
Total steel exports in May 2014 were 1.035 million tons compared to 1.080 million tons in April 2014, a 4.1% decrease, and a 10.9 %% decrease compared to May 2013. According to year-to-date figures, exports decreased 7.3% compared to 2013, or from 5.418 million tons in 2013 to 5.022 million tons in 2014.
The American Institute for International Steel is the only steel-related association that supports free trade. The Institute accomplishes its mission through advocacy, networking, communications, and education.
