The latest data released by the US government shows that steel exports from that country increased by 1.7 percent in August from the previous month. However, on an annualized basis, the drop in US steel exports remains at 21 percent.
The USA sent 749,762 tons of metal products abroad in August against 737,589 tons in July and 949,612 tons in August 2014.
Canada remains the largest recipient of US steel. US steel exports to Canada totaled 368,748 tonnes in August, accounting for nearly half of US total US steel exports for the month. Exports to Canada also rose 1.65 percent from the previous month. However, shipments to Canada fell 31 percent year-on-year to 523,390 tonnes.
Since Canada remains the main destination for steel exports from the United States, the economic downturn in this country is likely to affect American steel exports in 2015.
Total US steel exports for eight months from the beginning of this year amounted to 6.295 million tonnes, down 14.5 percent from the corresponding period in 2014.
US Steel Exports Increase Slightly In August
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