Analysis
June 16, 2026
Steel exports tick up to 13-month high in April
Written by Brett Linton
US steel exports increased 2% from March to April to the highest monthly volume in 13 months, according to US Department of Commerce figures. Although up, export levels have been historically low for over a year.
The amount of steel shipped abroad totaled 669,000 short tons (st) in April. Trade was up 16% from the same month one year earlier, but 21% below April 2024 levels. Compare this to the five-year low of 469,000 st set last December.
April trade was 6% above the 2025 average monthly export rate (629,000 st) but 13% below the 2024 average rate (770,000 st).
Over 90% of our exports are shipped to United States-Mexico-Canada Agreement (USMCA) trading partners. In April, Mexico received 66% of total US exports, and 30% were shipped to Canada. Other notable destinations (each accounting for less than 1% of trade) included China, India, the United Kingdom, the Bahamas, Peru, Brazil, and South Korea. Visit the International Trade Administration’s Steel Mill Export Monitor to further explore export data by specific country or product.
Weak trends persist
To smooth out short-term monthly noise, exports can be analyzed on a three-month moving average (3MMA) basis (Figure 2, left). From this viewpoint, exports began trending lower in late 2024 and fell to a five-year low of 552,000 st in January this year. Trade has recovered each of the past three months, rising to a one-year high of 649,000 st in April.
To eliminate seasonal variations, exports can be annualized on a 12-month moving average (12MMA) basis (Figure 2, right). From this perspective, exports weakened following their early 2024 peak and are nearing the low levels seen in 2019-2021. The 12MMA fell to a five-year low of 607,000 st in March and marginally recovered through April to 615,000 st.
Sheet and plate products see modest recoveries
Of the six flat-rolled steel products we track, three increased from March to April and three declined. Most products have significantly recovered from the historical lows seen late last year. All are higher than year-ago levels, and all other than galvanized are above their respective 3MMA and 12MMA levels. Notable product highlights include:
- Plate-cut-length exports rose 6% month over month (m/m) to a seven-month high and have recovered 35% from the low seen last November. April volumes were 2% higher than the average export rate seen across the last year.
- Coiled plate exports inched up 5% m/m. April trade was marginally lower than the two-and-a-half-year high recorded in February, and volumes have almost doubled from last September’s low. April figures were 22% above the average levels seen over the past year.
- Hot-rolled exports fell 5% m/m from March’s eight-month high. Although down, exports have recovered 41% from the historical low seen last December. April volumes were 2% greater than the average export rate of the past year.
- Cold-rolled exports slipped 3% m/m but represent one of the higher monthly rates seen in the past 15 months. Trade has recovered 72% from the historical low set back in December. April volumes were 9% higher than the average monthly rate of the last year.
- Galvanized exports declined 11% m/m to the lowest rate seen so far this year. Although down, trade has recovered 34% from the low seen last December. April volumes were 4% beneath the average rate recorded over the last year.
- Other-metallic coated (mostly Galvalume) exports jumped 19% m/m to a nine-month high, 41% above the low seen last December. April figures were 7% higher than the average export rate seen across the last year.
SMU members can access historical trade data on the Steel Exports page of our website.
