AIIS: U.S. Steel Exports Hobbled by Harsh Winter Weather
04/07/2014 - February 2014 showed mixed to disappointing results for U.S. steel exports, according to the American Institute for International Steel (AIIS).
“A weaker result in February over January was particularly evident with respect to NAFTA exports, which represent about three-quarters of total U.S. steel exports. We saw a 9% drop in U.S. steel exports to Canada, and an almost identical 9.3% drop in U.S. steel exports to Mexico. One likely explanation is that by most accounts, during the mid-January through February time period, there was less steel moving in North America during one of the harshest winters the Midwest has seen in many years. In contrast, February over January U.S. steel exports to the EU did show a healthy gain of 13.3%, although February 2014 exports to the EU were down by nearly 25% compared to February 2013,” said Richard Chriss, AIIS executive director.
Mixed February over January 2014 export results were seen in Asia, with a modest 8.8% gain in U.S. steel exports to China, a nearly 50% decline to Korea, and a 14.4% increase to Singapore.
“We are still hopeful that exports to our important NAFTA partners will improve significantly now that the weather will likely not be such an adverse factor in the Spring," said Mr. Chriss.
Total steel exports in February 2014 were 904,000 tons compared to 963,000 tons in January 2014, a 6.1% decrease, and an 12.8 %% decrease compared to February 2013. According to year-to-date figures, exports decreased 11.7% compared to 2013 or from 2.114 million tons in 2013 to 1.867 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.
Mixed February over January 2014 export results were seen in Asia, with a modest 8.8% gain in U.S. steel exports to China, a nearly 50% decline to Korea, and a 14.4% increase to Singapore.
“We are still hopeful that exports to our important NAFTA partners will improve significantly now that the weather will likely not be such an adverse factor in the Spring," said Mr. Chriss.
Total steel exports in February 2014 were 904,000 tons compared to 963,000 tons in January 2014, a 6.1% decrease, and an 12.8 %% decrease compared to February 2013. According to year-to-date figures, exports decreased 11.7% compared to 2013 or from 2.114 million tons in 2013 to 1.867 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.
