US Steel exports to Europe rise 150% y-o-y in May: AIIS

NEW YORK (Scrap Monster): United States steel exports to Europe rose by 150.4% year-on-year to 131,632 net tons in May this year and up by 272% month-on-month said the American Institute for International Steel in a research note.

According to David Phelps, president of AIIS, “Steel exports to the NAFTA, other Western Hemisphere countries also increased in May, while exports to Asia declined. Given economic conditions in the EU, it is difficult to expect that exports will continue to increase to the EU, but we remain hopeful that economic growth in the Western Hemisphere will continue to support growth in exports going forward.”

According to the government data, country's total steel exports increased 8.2% month-on-month to 1.263 million tons in May this year while its exports increased 14.9 percent in the first five months compared to the same period of 2011.

“Exports so far in 2012 are still on a record-setting pace, eclipsing the record year of 2008. With the exception of the Asian market, US exports of steel mill products are up in all other international market in 2012. While we are concerned about economic headwinds affecting export sales later in 2012, the competiveness of US made steel in international markets remains strong even in these uncertain times,” Phelps noted.

Total Steel exports in May 2012 were 1.263 million tons compared to 1.167 million tons in April 2012, a 10.4% increase compared to May 2011. According to year-to-date figures, exports increased 14.9% compared to 2011 or from 5.313 million tons in 2011 to 6.106 million tons in 2012.

United States' top ten steel exports in May 2012 (in net tons)