AISI: March Steel Shipments Surged from Prior Month

SEATTLE (Scrap Monster): The monthly data published by the American Iron and Steel Institute (AISI) suggests that steel shipments during the month of March this year recorded notable decline when compared with the same month a year ago. On the contrary, the shipments recorded surge over the prior month.

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According to AISI data, the steel mills shipped 7.338 million net tons in March 2024. This is significantly lower by 5.7% upon comparison with the shipments of 7.779 million net tons in the same month a year before. Meantime, the shipments during the month witnessed modest increase by 3.4% from the previous month. It must be noted that the shipments had totalled 7.098 million net tons in February this year.

The cumulative shipments by U.S. domestic steel mills totalled 21.820 million net tons during the initial three-month period of the year. This is modestly down by 3.6% when matched with the corresponding period a year before. The steel shipments by these mills had totalled 22.639 million net tons during the first quarterly period in 2023.

The report provides year-on-year comparison of shipment volumes of various steel products during the initial three months of 2024. The shipments of corrosion-resistant sheet during this period declined by nearly 3% over the previous year. The shipments of hot rolled sheet too were down by 3%. Meantime, cold rolled sheet shipments surged, registering an increase by 4%, upon comparison with the initial three months of 2023, AISI noted.