US Steel exports up by 23% Y-o-Y in Jan-Feb: AIIS

United States steel exports advanced by 23% year-on-year in January-February while its February exports declined by 4%, as per latest data released by the American Institute for International Steel (AIIS).

NEW YORK (Scrap Monster): United States steel exports advanced by 23% year-on-year in January-February while its February exports declined by 4%, as per latest data released by the American Institute for International Steel (AIIS).

According to AIIS data, total steel exports in February this year were 1.2 million tons compared to 1.3 million tons in January 2012, a 4 percent decrease, and a 27.3 percent increase compared to February 2011.

According to year-to-date figures, exports increased 23 percent compared to 2011 or from 2 million tons in 2011 to 2.5 million tons in 2012.

Dave Phelps, the president of AIIS stated that, “while several countries such as Brazil and Venezuela substantially increased their imports of US steel in February.”

“Major export markets registered declines on a month to month basis. Exports to NAFTA and on the whole the rest of the Western Hemisphere and Asia all showed declines. Following the small decline in December to January, it can be speculated that improved US market conditions during the first quarter kept more steel at home in February too, but we will see if this trend continues as we move through 2012,' he added.

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