The American Institute for International Steel (AIIS) issued a statement Wednesday commenting on the latest data for the United States' international steel trade activity, which show that US steel exports increased by 13.1 percent in August over July, and exceeded steel imports in August by almost 100,000 tons.
Total steel exports from the US in August 2009 were 800,000 net tons compared to 707,000 nt in July 2009, a 13.1 percent increase, and a 40 percent decrease compared to August 2008. According to year-to-date figures, exports decreased 40.5 percent compared to 2008 or from 9.1 million nt in 2008 to 5.5 million nt in 2009.
"The improvement in exports in August is a positive sign that some international markets are improving, especially in the developing world," said David Phelps, president, AIIS.
"The data for August and the year-to-date period show that some developing countries, such as in Africa, the Dominican Republic, India, Brazil, and Russia are beginning to show strong signs of life in what for most developed countries has been a difficult year. Both India and China, which did not register negative GDP growth, exports of high valued alloy and stainless products dominate the tonnages and are growing at healthy rates and beginning to return to 2008 record setting levels. With imports (less semifinished imports and hot rolled for conversion at major rolling mills) arriving at a lower rate than export tonnages, and with the weak dollar, it is clear that the US steel industry is more and more internationally focused and steel trading companies have played an important role in that transformation over the last few years," concluded Phelps.