According to a report Thursday from the American Institute for International Steel, exports of US steel held steady in June, as increases to minor trading partners offset decreases to the North American Free Trade Agreement (NAFTA) countries.
Total exports increased 0.5 percent from May to June to reach 1.04 million net tons, which was 2.2 percent lower than the June 2013 total. Exports were down 6 percent to Mexico to 341,481 net tons, and 4 percent to Canada to 536,502 net tons. Compared to June 2013, these numbers represent an 8 percent increase for Mexico, and a 7 percent decline for Canada.
While exports to the United States' NAFTA partners were down, other countries made up the difference, most notably Brazil, which more than doubled its imports of American steel to 19,891 net tons; Russia, which bought 6,092 net tons in June, more than six times the amount in the preceding month; and certain other countries in the Western Hemisphere, Asia and Africa.
For the first half of the year, exports were down 6.5 percent from a year earlier to 6.06 million net tons. Year-to-date exports to Canada have declined 4 percent, while exports to Mexico have increased 2.5 percent. Exports to most other trading partners are down for the year, though two notable--and, perhaps, surprising--exceptions are Venezuela (up 139 percent) and Russia (up 123 percent). The raw numbers are still small, though: Venezuela and Russia combined accounted for just under 1 percent of all steel exports this year.
Total steel exports in June 2014 were 1.041 million tons compared to 1.036 million tons in May 2014, a 0.5 percent increase, and a 2.2 percent t decrease compared to June 2013. According to year-to-date figures, exports decreased 6.5 percent compared to 2013, or from 6.482 million tons in 2013 to 6.063 million tons in 2014.
