According to a report from the American Institute for International Steel (AIIS), February 2014 showed mixed to disappointing results for US steel exports.
“A weaker result in February over January was particularly evident with respect to NAFTA exports, which represents about three-quarters of total US steel exports,” said Richard Chriss, Executive Director of AIIS. “We saw a 9 percent drop in US steel exports to Canada, and an almost identical 9.3 percent drop in US steel exports to Mexico. One likely explanation is that by most accounts, during the mid-January through February time period, there was less steel moving in North America during one of the harshest winters the Midwest has seen in many years. In contrast, February over January US steel exports to the EU did show a healthy gain of 13.3 percent, although February 2014 exports to the EU were down by nearly 25 percent compared to February 2013.”
Mixed February over January 2014 export results were seen in Asia, with a modest 8.8 percent gain in US steel exports to China, said Chriss, a nearly 50 percent decline to Korea, and a 14.4 percent increase to Singapore. “We are still hopeful that exports to our important NAFTA partners will improve significantly now that the weather will likely not be such an adverse factor in the Spring,” he said.
Total steel exports in February 2014 were 904,000 tons compared to 963,000 tons in January 2014, reflecting a 6.1 percent decrease, and a 12.8 percent decrease compared to February 2013. According to year-to-date figures, exports decreased 11.7 percent compared to 2013 or from 2.114 million tons in 2013 to 1.867 million tons in 2014.
