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US steel exports surged by 8.2pct MoM

Add Time:2012-07-16 05:59:00 Clicks:

According to government data, US steel exports increased by 8.2% MoM in May 2012 over April 2012.

Mr David Phelps president of American Institute for International Steel said that "Steel exports to the NAFTA, other Western Hemisphere countries and the EU increased in May 2012, while exports to Asia declined. Given economic conditions in the EU, it is difficult to expect that exports will continue to increase to the EU, but we remain hopeful that economic growth in the Western Hemisphere will continue to support growth in exports going forward."

Mr Phelps concluded that "Exports so far in 2012 are still on a record setting pace, eclipsing the record year of 2008. With the exception of the Asian market, US exports of steel mill products are up in all other international market in 2012. While we are concerned about economic headwinds affecting export sales later in 2012, the competiveness of US made steel in international markets remains strong even in these uncertain times."

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