The American Institute for International Steel, Inc. (AIIS) reported Tuesday that total steel exports of 1.095 million tons in June 2011 were down 4.2 percent from exports of 1.144 million tons in May. Compared to June 2010, exports were down 4.5 percent. However, according to year-to-date figures, exports increased 3 percent in the January to June time period compared to 2010--from 6.408 million tons in 2010 to 6.222 million tons in 2011.
David Phelps, President of the AIIS, commented on the results, "Declines in exports to NAFTA and Asia reflect more than the total decline. Softening market conditions in NAFTA in June, along with lower exports to the smaller export market in Asia some months prior to June lowered the total for the month. Whether this result is a portend of a weakening trend given all the economic turmoil in the US/NAFTA market and other developed countries is concerning and warrants watching for trends."
"While there are concerns about a double dip recession in the US/NAFTA and also concerns about economic weakness in the Eurozone going forward, on balance so far, the stronger markets internationally in 2011 have kept exports above the weaker conditions experienced in 2010," concluded Phelps.