The American Institute for International Steel (AIIS) reported Wednesday that based on government data, total steel exports in May were 1.144 million net tons (nt) compared to 1.027 million nt in April, an 11.4 percent increase, and an 8.4 percent increase compared to May 2010. Year-to-date, steel exports are up 2.7 percent compared to 2010.
"The increase in May reflected improved market conditions in the NAFTA region in April-May and also continued strong demand in the rest of the hemisphere in the months prior when the steel was ordered. We are also encouraged by the increase to Asia in May," said David Phelps, President, AIIS.
"Strong growth patterns outside of our hemisphere have continued to sustain encouraging growth rates for these markets, such as Asia--up 25.3 percent--and the EU and Africa--up 35.7 percent and 60.9 percent respectively. While exports to our hemisphere's markets rebounded in mid-2011, the current soft patch could be signaling some declines in months to come for those markets," concluded David Phelps.
Other notable changes in May included a 42.9 percent decline in exports to Russia from April to May. Exports to Brazil and Venezuela fell 33.2 and 40.9 percent, respectively, month-on-month. Exports to Panama surged 1,258.5 percent in May, and exports to Vietnam climbed 940.1 percent.