US steel exports declined for a third consecutive month in July but remained elevated compared to recent years.
Exports of all steel products totaled 844,632 net tons in July, according to the latest figures from the US Department of Commerce. That was a 6% decline from June’s exports of 901,349 tons, and down from May 2023’s recent high of 914,018 tons (Fig. 1).
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.
Laura MillerRead more from Laura Miller
Latest in Steel Products
Construction Spending Up in August: AGC
Construction spending in the US increased in August, according to the Associated General Contractors of America (AGC).
USS Slates Layoffs at Granite City Works
U.S. Steel is laying off ~300 workers at its Granite City Works in Illinois, a company spokeswoman told SMU on Tuesday.
AISI: Raw Steel Production Shifts Down
US raw steel output took a downward turn during the week ending Sept. 30, according to data released by the American Iron and Steel Institute (AISI) on Monday, Oct. 2.
GM Lays Off Workers in Ohio and Indiana, Cites UAW Strike
General Motors has announced layoffs at its Parma Metal Center in Ohio and Marion Metal Center in Indiana as a result of the ongoing United Auto Workers (UAW) strike.
Rig Count Drops in the US, Inches Up in Canada
The number of active oil and gas drilling rigs in the US dropped this week while Canada’s count increased by one, said oilfield services company Baker Hughes in its weekly report.