Steel Products Prices North America
U.S. Steel Exports Slip through December
Written by Brett Linton
February 11, 2021
After declining 8% the prior month, U.S. steel exports decreased another 8% in December, finishing off the last month of the year at 616,000 tons, according to recent U.S. Department of Commerce data.
2020 saw quite a swing in monthly export levels; the year started strong, nearing 700,000 tons in January through March. Then the COVID downturn choked exports in April and May, with May levels reaching the lowest seen in our 24-year data history at 374,000 tons. Monthly export levels recovered each month afterward through October, reaching a 2.5-year high of 730,000 tons, but slowed again through the remaining months of the year.
Looking back into 2019, total December exports were up 10% from levels one year prior, marking the fourth consecutive month with a year-over-year increase.
The 2020 monthly average for exports has now increased to 591,000 tons, still below both the 2019 monthly average of 648,000 tons and the 2018 monthly average of 775,000 tons.
Total December exports were below the three-month moving average (average of October through December 2020), but above the 12-month moving average (average of January through December 2020). Here is a detailed breakdown by product:
Cut plate exports were up 1% from November to 79,563 tons, up 29% compared to one year ago.
Exports of coiled plate were 41,983 tons in December, down 19% over last month, but up 12% year over year.
Hot rolled steel exports were flat over November at 66,275 tons, up 11% from December 2019.
Exports of cold rolled products were 36,068 tons in December, down 19% from November, and in line with levels seen this time last year.
Galvanized exports decreased 10% month over month to 99,511 tons. Compared to levels one year ago, December is down 3%.
Exports of all other metallic coated products were 22,435 tons, down 2% from November, but up 36% compared to one year ago.
Below are two graphs showing the history of total U.S. steel exports through December data, one with unadjusted monthly figures and the other with data as a three-month moving average. We also have interactive graphics available on our website here. If you need assistance logging into or navigating the website, contact us at Info@SteelMarketUpdate.com.
By Brett Linton, Brett@SteelMarketUpdate.com
Brett Linton
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