US steel exports to NAFTA countries slow in March

Monday, 14 May 2012 01:51:51 (GMT+3)   |  
       

In a press release Friday, the American Institute for International Steel (AIIS) reported that US steel exports declined 0.6 percent in March as less US steel products were sent to Canada and Mexico. However, exports to Asia, particularly China and Taiwan, as well as other countries in the Western Hemisphere, advanced in March. "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 suggest that steel demand growth in the NAFTA region will remain subdued going forward," said David Phelps, president, AIIS.

Exports in Q1 increased 17 percent over Q1 2011, and total steel exports in March 2012 were 1.204 million tons compared to 1.211 million tons in February 2012, a 0.6 percent decrease, and a 6.4 percent increase compared to March 2011. According to year-to-date figures, exports increased 17 percent compared to 2011 or from 3.1 million tons in 2011 to 3.7 million tons in 2012.