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    U.S. Steel Exports Bounced Back in January

    Written by Brett Linton


    New Commerce Department data shows the United States exported 647,156 tons of steel in January, up 21 percent from December and up 2 percent from the same month one year ago. While up dramatically over one month prior, recall that December 2019 was the second lowest export level in the past decade (just ahead of the lowest level in December 2018).

    January exports were 5 percent above the 2019 average of 615,698 tons, but remain significantly muted compared to historical levels, as shown in the purple line graph below.

    Brett Linton

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    Mills seek more scrap after lower prices fail to attract tons

    Several mills that bought October scrap early last week are still asking for additional supplies, scrap market participants said. The reason: the mills' initial prices did not attract enough of the raw material, they said. A trading source based in northern Ohio said three mills have contacted his firm seeking offers for additional tons. He said the mills asked for offers even if prices were higher than their original buys last week.