Steel Exports Drop in July but Remain High

Looking at exports on a three-month moving average basis, we can see exports have been on the rise this year, with the 3MMA moving in July to its highest point since mid-2018 (Fig. 2).

The 12-month moving average (12MMA) of exports, meanwhile, has been inching up since mid-2021 and has begun to tick up higher over the past few months (Fig. 3).

Most major categories of flat-rolled steel declined from June to July (Fig. 4 and Table 1). Cold-rolled sheet was the one exception, rising 6% month on month to 79,007 tons – the highest level since May 2017, according to SMU’s files.

Cold rolled exports to Mexico were at a recent high of 61,147 tons. Overall shipments to Mexico dropped 10% MoM but remained high at 419,597 tons. As you will recall, we discussed more steel being exported to Mexico in last month’s export article.

We have a graphing tool available on our website where readers can further investigate historical export data in total and by product.