Steel Products Prices North America
U.S. Steel Exports Jump 17% in March, Near Three-Year High
Written by Brett Linton
May 11, 2021
U.S. steel exports jumped 17% in March to 790,000 tons, according to recently released U.S. Department of Commerce trade data, now at the highest monthy level seen since June 2018. Of our six monitored product groups, the greatest month-over-month increase in exports went to plate cut lengths, up 37%, followed by a 35% increase in other metallic coated products. Total March 2021 exports are 13% higher than March 2020 levels.
Recall that 2020 saw quite a swing in monthly export levels; the year started strong, nearing 700,000 tons through March. Then the COVID downturn choked exports in April and May, with May levels reaching the lowest seen in SMU’s 24-year data history at 374,000 tons. Monthly export levels recovered each month afterward through October, reaching a 2.5-year high of 730,000 tons, but slowed again through the remaining months of the year.
The 2020 monthly average for exports was 591,000 tons, below both the 2019 monthly average of 648,000 tons and the 2018 monthly average of 775,000 tons. The 2021 monthly average is now up to 713,000 tons through March figures.
Total March exports were above the three-month moving average (average of January through March 2021), and well above the 12-month moving average (average of April 2020 through March 2021). Here is a detailed breakdown by product:
Cut plate exports were up 37% from February to 112,056 tons, up 12% compared to one year ago. Click here to view a graph showing the growth in cut plate exports.
Exports of coiled plate were 45,082 tons in March, up 12% over the prior month, but down 3% from levels seen one year earlier.
Hot rolled steel exports were up 12% from February to 62,489 tons, up 14% from the prior year.
Exports of cold rolled products were 57,533 tons in March, up 14% from February, and up 41% from the same time last year. Click here to view a graph showing the growth in cold rolled exports.
Galvanized exports increased 12% month over month to 123,584 tons. Compared to levels one year ago, March was up 19%. Click here to view a graph showing the growth in galvanized exports.
Exports of all other metallic coated products were 26,144 tons, up 35% from February, and up 22% year-over-year. Click here to view a graph showing the growth in other metallic coated exports.
Below are two graphs showing the history of total U.S. steel exports through the latest final data, one with unadjusted monthly figures and the other with data displayed as a 12-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, Brett@SteelMarketUpdate.com
Brett Linton
Read more from Brett LintonLatest in Steel Products Prices North America
SMU Price Ranges: Sheet and plate move ‘soft sideways’ to start August
Sheet and plate prices were either flat or modestly lower this week on softer demand and increasing domestic capacity.
Nucor lowers HRC list price to $890/ton
Nucor’s weekly consumer spot price (CSP) for hot-rolled (HR) coil was adjusted $10 per short ton (st) lower this week after holding steady last week.
CRU: Q3 will be the lowest point in current sheet price cycle
CRU Principal Analyst Shankhadeep Mukherjee expects a restocking cycle for steel sheet products in most parts of the world due to either low inventories or seasonally stronger demand.
CRU: US rebar and wire rod prices rise alongside S232 increase
CRU Senior Steel Analyst Alexandra Anderson discusses current market and pricing dynamics for long steel products in the US.
SMU Price Ranges: Sheet and plate steady ahead of Independence Day
Sheet and plate prices were little changed in the shortened week ahead of Independence Day, according to SMU’s latest check of the market.