US Steel Exports in June up by 48pct YoY

Resource from: CBCC Likes:2930

Aug 20,2010

American Institute for International Steel has announced that US steel exports declined in June 2010 as compared to May by 0.7% MoM. Mr David Phelps president of AIIS said that "The decline in exports for the month was primarily due to a decline in exports to our NAFTA partners. NAFTA market demand in June had begun to slow and the decline in demand is reflected in both export shipments and US domestic market shipment data." He added that "The good news in the export data in June is the continued strength of exports to non NAFTA Western Hemisphere markets, which grew by over 9% MoM and continue to run at 78% higher than in 2009 for the first half of 2010." Total steel exports in June 2010 were 1.048 million tons as compared to 1.055 million tons in May 2010, down by 0.7% MoM and a 48.4% YoY increase compared to June 2009. According to YTD figures, exports increased by 58.1% YoY as compared to 2009 or from 3.9 million tons in 2009 to 6.2 million tons in 2010.

(CBCC)

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