U.S. steel exports recovered further in August, rising 15 percent from July to 551,372 net tons, according to recent U.S. Department of Commerce data. August levels are up 30 percent from June, and are up 56 percent compared to May (when exports were at the lowest levels seen in SMU’s 24-year data history). Total August exports are down 15 percent from levels one year ago.
The 2020 monthly average for exports has now inched up to 520,000 tons, still well below the average for 2019 of 616,000 tons.
Total August exports were above the three-month moving average (average of June through August 2020), but below the 12-month moving average (average of September 2019 through August 2020). Here is a detailed breakdown by product:
Cut plate exports increased 24 percent from July to 84,957 tons and were up 18 percent compared to one year ago.
Exports of coiled plate were 29,889 tons in August, up 4 percent over last month, but down 22 percent year over year.
Hot rolled steel exports rose 26 percent over July to 44,792 tons, down 13 percent from August 2019.
Exports of cold rolled products were 33,903 tons in August, up 31 percent from July, but down 28 percent over the same month last year.
Galvanized exports increased 12 percent month over month to 94,374 tons. Compared to levels one year ago, August was down 23 percent.
Exports of all other metallic coated products were 19,813 tons, up 25 percent from July and up 2 percent compared to one year ago.
Below are two graphs showing the history of U.S. steel exports through August data, in total and by product. To use their interactive features and see a longer history, view the graphs on our website by clicking here. If you need assistance logging into or navigating the website, contact us at info@SteelMarketUpdate.com.
Brett LintonRead more from Brett Linton
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