U.S. Steel Exports Drop in April, Soar Year-to-Date

U.S. steel exports declined 2.1 percent in April from March, but were 58.3 percent higher in the first four months of 2010 compared to the same period last year, the American Institute for International Steel said Friday.

"U.S. exports of steel to the NAFTA region declined month on month by 10 percent, while exports to non-NAFTA Western Hemisphere increased by over 87 percent almost offsetting the decrease for the month," said AIIS President David Phelps.

He said the year to date data show continued growth in exports in 2010 compared to 2009, with strong increases in all regions except Africa.

"With continued good economic news in many developing countries, we are optimistic that exports can continue to support American jobs in the steel and logistics sectors in 2010," Phelps said.

Total Steel exports in April 2010 were 1.126 million tons compared to 1.151 million tons in March 2010, a 2.1 percent decrease, and an 82.4 percent increase compared to April 2009.

According to year-to-date figures, exports increased 58.3 percent from the same period in 2009 or from 2.6 million tons in 2009 to 4.2 million tons in 2010.
(Source:www.joc.com)