Steel exports declined in November by 17.1 percent compared to October, according to a report from the American Institute for International Steel based on government reporting.
“The large decline in steel exports in November was primarily due to the sharp drop in exports to our NAFTA partners. The US 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,” said Richard Chriss, AIIS executive director.
For the year-to-date period in 2013, exports declined 7.5 percent compared to 2012. “The NAFTA and offshore markets remain 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,” concluded Chriss.
Total steel exports in November 2013 were 939.185 thousand tons compared to 1.133 million tons in October 2013, a 17.1 percent decrease, and a 5.9 percent decrease compared to November 2012. According to year-to-date figures, exports decreased 7.5 percent compared to 2012, or from 12.775 million tons in 2012 to 11.811 million tons in 2013.