Economy

Domestic Steel Shipments Slump 1.7% in April: AISI

June 7, 2023

Steel shipments in the US fell 1.7% in April vs. the same month last year, the American Iron and Steel Institute (AISI) reported on Wednesday.

AISI said US steel mills shipped 7,499,979 net tons in April, down from 7,629,985 tons shipped a year earlier, but up 1.7% from the 7,372,430 tons shipped during March.

Year-to-date shipments in 2023 as of April stood at 28,938,521 tons, off 5.0% from 2022 shipments of 30,456,079 tons in the same period, AISI said.

The institute noted that a comparison of shipments year-to-date this year to the first four months of 2022 shows the following changes: hot-rolled sheet (-3%), cold-rolled sheet (-5%), and corrosion-resistant sheet (-5%).

By Ethan Bernard, ethan@steelmarketupdate.com

Latest in Economy

CRU: Dollar and bond yields rise, metal prices fall as Trump wins election

Donald Trump has won the US presidential election. The Republican party has re-taken control of the Senate. Votes are still being counted in many tight congressional races. But based on results so far, the Republicans seem likely to maintain control of the House of Representatives. If confirmed, this will give Trump considerable scope to pass legislation pursuing his agenda. What this means for US policy is not immediately obvious. Trump will not be inaugurated until Jan. 20. In the coming weeks and months, he will begin to assemble his cabinet, which may give a clearer signal on his policy priorities and approaches. Based on statements he made during the presidential campaign, we have set out the likely direction of his economic policy here and green policy here.