Steel Products Prices North America
US Steel Exports Steady in June at 800,000 Tons
Written by Brett Linton
August 9, 2022
US steel exports were up 1% from May to June, totaling just shy of 800,000 net tons, according to the latest US Commerce Department data. This is the third highest monthly export rate seen in the past four years. On a 12-month moving average (12MMA), June exports rose to a 3+ year record high. Total June exports are 3% higher than levels seen one year ago.
As shown in the graph below, June exports remain high in comparison to recent years. For comparison, the highest monthly figure seen in the past four years was in March 2022 at 843,000 tons. The highest level recorded in Figure 1 was 1.05 million tons in May 2017, and the highest monthly rate in our history was January 2012 at 1.32 million tons. Recall that in June 2020, total steel exports had fallen to a 24-year low of 374,000 tons.
Of our six monitored product groups, three increased month-over-month in June and three declined (Table 1).
On a year-to-date (YTD) basis, export levels for the first six months of 2022 now average 781,000 tons per month. This is up from an average of 736,000 tons in the same period of 2021, up from an average of 551,000 tons in 2020 YTD, and up from an average of 649,000 tons in 2019 YTD.
On a rolling 12MMA, June exports are now at a 41-month high of 753,000 tons (Figure 2). Recall the August 2020 mulityear low 12MMA of 577,000 tons. Total exports averaged 731,000 tons per month in 2021, compared to 591,000 tons in 2020, 648,000 tons in 2019, and 775,000 tons in 2018.
Total June exports are 1% below the 3MMA (average of April through June 2022), but 6% above the 12MMA (average of July 2021 through June 2022). Here is a detailed breakdown by product:
Cut-to-length plate exports rose to 103,248 tons in June, up 11% compared to May and up 1% compared to June 2021.
Exports of coiled plate were 39,197 tons in June, down 8% from the prior month and down 17% from June of last year.
June hot rolled steel exports rose 28% from May to 66,700 tons and were up 3% from one year prior.
Exports of cold rolled products were 53,692 tons in June, 6% lower than May but 2% higher than the same month last year.
Galvanized exports were 118,574 tons, down 6% compared to May and down 8% year-over-year.
Exports of all other metallic-coated products increased 4% month-over-month to 29,912 tons. Compared to levels one year ago, June is up 17%.
Figures 3 and 4 show US exports by product, both monthly levels and on a 12MMA basis.
We have an interactive graphing tool available on our website here. Readers can further investigate historical export data in total and by product. If you need assistance logging into or navigating the website, contact us at Info@SteelMarketUpdate.com.
By Brett Linton, Brett@SteelMarketUpdate.com
Brett Linton
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