SEATTLE (Scrap Monster): The monthly data published by the American Iron and Steel Institute (AISI) suggests marginal decline in steel shipments during the month of May this year compared with the same month a year ago. However, the shipments registered modest increase over the prior month.
According to AISI data, the steel mills shipped 7.911 million net tons in May 2022. This is marginally down by 1.0% from the shipments of 7.987 million net tons in the same month a year before. Meantime, the shipments during the month recorded modest increase by 3.7% from the previous month. It must be noted that the shipments had totalled 7.630 million net tons in the month of April this year.
The cumulative shipments by U.S. domestic steel mills totalled 38.367 million net tons during the initial five-month period of the year. This is marginally higher by 1.1% when matched with the corresponding period a year before. The steel shipments by these mills had totalled 37.938 million net tons during the initial five-month period in 2021.
The report provides year-on-year comparison of shipment volumes of various steel products during the first five months of 2022. The shipments of corrosion-resistant sheet and strip during this period have declined by 1% over the previous year. The shipments of hot rolled sheet declined by 4%, whereas those of cold rolled sheet recorded 9% year-on-year decline, AISI noted.