Prices
June 13, 2021
Despite April Dip, U.S. Steel Exports Still Strong vs 2020 Levels
Written by Brett Linton
U.S. steel exports declined 4% in April to 760,000 tons, according to recently released U.S. Department of Commerce trade data. Althought down over the month prior, recall that March exports were at the highest level seen since June 2018. Of our six monitored product groups, the single product with a month-over-month increase was cut-to-length plate, up 4% in April. Galvanized exports declined 12% month-over-month and the four other product groups we follow declined as well. Total April 2021 exports are 79% higher than April 2020 levels.
Recall that 2020 saw a big swing in export levels: The year started strong, nearing 700,000 tons through March. Then the COVID-19 downturn choked exports in the summer months, 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.
