U.S. steel exports increased in October compared to September by 12.1 percent, according to the American Institute for International Steel and government data.
“Exports to both NAFTA and the smaller steel export markets in Asia and the EU increased on a month-to-month basis offsetting declines in other markets. The increase in exports – notwithstanding concerns about economic conditions in many international markets – is gratifying. Domestic mills continue to show their international competitiveness and perhaps benefit from currency exchange rate dynamics and capacity utilization efficiencies,” said AIIS President David Phelps, in a statement.
Steel exports increased in the year-to-date period by 6.8 percent compared to 2011. “The reversal of the downward trend experienced in recent months for steel exports has solidified 2012 as on track to set a new steel export record for the year,” Phelps said.
Total Steel exports in October were 1.186 million tons compared to 1.058 million tons in September, a 12.1 percent increase, and a 3 percent increase compared to October 2011. According to year-to-date figures, exports increased 6.8 percent compared to 2011 or from 11.023 million tons in 2011 to 11.778 million tons in 2012.