The steel industry is starting to see some encouraging trends...exports rising, an increase in June shipments compared to May, and for the 15th time in the last 16 weeks, raw steel production and capacity utilization inched upwards.
For the month of June 2009, U.S. steel exports rose compared to April and May 2009. June steel exports were 705,850 tons, a 12 percent increase from 627,968 tons for May. Overall, 2009 U.S. exports match the 2009 U.S. steel production trends, which are a little more than 50 percent of 2008's best months and likely reached a bottom in early spring (April-May).
America's NAFTA partners remain the leading recipients of domestic exports. Exports to Canada rose 13 percent to 347,726 tons, while exports to Mexico were down about 5 percent to 143,238 tons in the same May to June comparison.
An increase of note includes the fact that U.S. rebar exports nearly doubled from May to June, wich a large portion going to Panama. Exports to Panama experienced a 15-fold increase to 23,435 tons. In addition, other countries that saw increases in exports include steel exports to India up 75 percent to 35,207 tons and exports to Nigeria experiencing a 10-fold increase to 12,341 tons. Exports were 15 perecent of U.S. net shipments in June 2009.
U.S. steel mills shipped 4,797,000 net tons in June 2009, a 12.1 percent increase from the 4,282,000 net tons shipped in the previous month, May 2009, and a 47.5 percent decrease from the 9,136,000 net tons shipped in June 2008. A month-to-month comparison of shipments shows the following changes: hot dipped galvanized sheet and strip, up 27.0 percent; hot rolled sheet, up 23.0 percent; and cold rolled sheet, up 15.0 percent.
The domestic steel industry's capability utilization rate, while still off by about 40 percent from one year ago production levels, is inching upwards, this week reaching 53.9 percent, up from its 2009 low of 40.4 percent the week of April 4th. Raw steel production climed last week for the 15th time in the past 16 weeks, reaching 1,285,000 tons, a 0.6 percent increase over 1,277,000 tons the previous week and 48.4 percent ahead of 866,000 tons at the satrt of this year.
For the month of June 2009, U.S. steel exports rose compared to April and May 2009. June steel exports were 705,850 tons, a 12 percent increase from 627,968 tons for May. Overall, 2009 U.S. exports match the 2009 U.S. steel production trends, which are a little more than 50 percent of 2008's best months and likely reached a bottom in early spring (April-May).
America's NAFTA partners remain the leading recipients of domestic exports. Exports to Canada rose 13 percent to 347,726 tons, while exports to Mexico were down about 5 percent to 143,238 tons in the same May to June comparison.
An increase of note includes the fact that U.S. rebar exports nearly doubled from May to June, wich a large portion going to Panama. Exports to Panama experienced a 15-fold increase to 23,435 tons. In addition, other countries that saw increases in exports include steel exports to India up 75 percent to 35,207 tons and exports to Nigeria experiencing a 10-fold increase to 12,341 tons. Exports were 15 perecent of U.S. net shipments in June 2009.
U.S. steel mills shipped 4,797,000 net tons in June 2009, a 12.1 percent increase from the 4,282,000 net tons shipped in the previous month, May 2009, and a 47.5 percent decrease from the 9,136,000 net tons shipped in June 2008. A month-to-month comparison of shipments shows the following changes: hot dipped galvanized sheet and strip, up 27.0 percent; hot rolled sheet, up 23.0 percent; and cold rolled sheet, up 15.0 percent.
The domestic steel industry's capability utilization rate, while still off by about 40 percent from one year ago production levels, is inching upwards, this week reaching 53.9 percent, up from its 2009 low of 40.4 percent the week of April 4th. Raw steel production climed last week for the 15th time in the past 16 weeks, reaching 1,285,000 tons, a 0.6 percent increase over 1,277,000 tons the previous week and 48.4 percent ahead of 866,000 tons at the satrt of this year.
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