According to the data released by the US International Trade Commission (ITC), US hot rolled coil (HRC) exports in August this year slid 52.29 percent year on year to 116,818 metric tons, while an increase of 33.84 percent was registered compared to July. Meanwhile, the total value of these exports amounted to $56.28 million, rising by 13 percent month on month and down 72.7 percent compared to August 2008.
In August, Canada was the largest HRC importer from the US market with 54,535 metric tons. Canada was followed by Guatemala, with 15,067 metric tons, and by Mexico with 14,670 metric tons.
In August, the average export price of HRC from the US amounted to $482/mt, down $91.31/mt or 16 percent from July levels, and indicating a decrease of $361/mt or 43 percent from $842/mt in August 2008.
On the other hand, in the January-August period of this year, US HRC exports totaled 602,235 metric tons, decreasing by 55.26 percent, while the value of these exports amounted to $335 million, down 64.02 percent, both compared to the corresponding period of 2008.
In the first eight months of this year, US HRC exports mostly went to NAFTA members. 60 percent of US HRC exports was delivered to Canada, while 22.78 percent of total HRC exports was delivered to Mexico.