SEATTLE (Scrap Monster): The monthly data published by the American Iron and Steel Institute (AISI) suggests notable decline in steel shipments during the month of November last year compared with the same month a year ago. Also, the shipments recorded decline over the prior month.
According to AISI data, the steel mills shipped 6.939 million net tons in November 2022. This is modestly down by 12.1% from the shipments of 7.894 million net tons in the same month a year before. The shipments during the month witnessed modest decline of 3.8% from the previous month. It must be noted that the shipments had totalled 7.210 million net tons in the month of October this year.
The cumulative shipments by U.S. domestic steel mills totalled 82.614 million net tons during the initial eleven-month period of the year. This is modestly down by 4.9% when matched with the year before. The steel shipments by these mills had totalled 86.848 million net tons during Jan-Nov ‘21.
The report provides year-on-year comparison of shipment volumes of various steel products during the first eleven months of 2022. The shipments of corrosion-resistant sheet and strip during this period declined heavily by nearly 9% over the previous year. Also, shipments of hot rolled sheet were down by 9%, whereas those of cold rolled sheet recorded the largest decline by 14% year-on-year, AISI noted.
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