Steel Markets

October steel exports fall to 2023 low

Written by Laura Miller

US steel exports declined for the second month in a row in October, falling to the lowest monthly total so far in 2023.

Exports of all steel products totaled just over 728,200 net tons in October, the latest figures from the US Department of Commerce’s International Trade Administration show. October’s exports are 7% lower than the month prior and 20% lower than the recent high of 914,018 tons recorded in May.

Looking at exports on a three-month moving average (3MMA) basis, we can see exports falling off from the recent high of more than 886,600 tons in July. October’s 3MMA was just over 799,100 tons.

The 12-month moving average (12MMA) of exports, meanwhile, continues to trend upwards, rising to more than 793,000 tons in October.

Table 1 shows an analysis of flat-rolled steel exports for the month of October. Of note in the export data are coiled plate exports at a 10-month low and hot rolled exports at a six-month low. Exports of cut-to-length plate and cold-rolled sheet inched up during the month.

Looking at the 12MMAs of exports by product, we can see galvanized, hot rolled, cold rolled, and cut plate exports trending upwards to levels even with or even higher than exports during 2018. Exports of coiled plate, meanwhile, have been trending downward, while other metallic-coated exports are generally flat.

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

Laura Miller

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