U.S. steel exports slipped 8 percent in November to 668,000 tons, according to recent U.S. Department of Commerce data. Although down over the prior month, November shows improvement compared to earlier this year; exports are up 79 percent compared to May, when we saw the lowest level in SMU’s 24-year data history. Total November exports are up 7 percent from levels one year ago, marking the third consecutive month with a year-over-year increase.
The 2020 monthly average for exports has now increased to 588,000 tons, still below the 2019 monthly average of 648,000 tons.
Total November exports were below the three-month moving average (average of September through November 2020), but above the 12-month moving average (average of December 2019 through November 2020). Here is a detailed breakdown by product:
Cut plate exports were up 9 percent from October to 79,118 tons, up 21 percent compared to one year ago.
Exports of coiled plate were 52,133 tons in November, down 7 percent over last month, but up 34 percent year over year.
Hot rolled steel exports fell 33 percent over October to 66,090 tons, up 45 percent from November 2019.
Exports of cold rolled products were 44,340 tons in November, up 4 percent from October, and up 7 percent over the same month last year.
Galvanized exports decreased 9 percent month over month to 111,184 tons. Compared to levels one year ago, November is down 5 percent.
Exports of all other metallic coated products were 22,897 tons, up 4 percent from October and up 27 percent compared to one year ago. This is the highest level seen since October 2019.
Below are two graphs showing the history of total U.S. steel exports through November data, one with unadjusted monthly figures and the other with data on a three-month moving average. We also have interactive graphics available on our website here. If you need assistance logging into or navigating the website, contact us at info@SteelMarketUpdate.com.
By Brett Linton, email@example.com
Brett LintonRead more from Brett Linton
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