Steel Exports Grew in August

Exports of steel from the United States increased in August by 13.1 percent over July, according to a report from the American Institute for International Steel. The month-to-month increase is encouraging news in an industry that has been in a deep and prolonged slump. Exports in August fell 40.6 percent compared with a year ago.

U.S. exporters shipped 800,000 tons of steel in August, 2009. In July, they shipped 707,000 tons. In August, 2008, they shipped 1.3 million tons.

“The improvement in exports in August is a positive sign that some international markets are improving, especially in the developing world,” said David Phelps, president of AIIS.

“The data for August and the year-to-date period show that some developing countries, such as in Africa, the Dominican Republic, India, Brazil, and Russia are beginning to show strong signs of life in what for most developed countries has been a difficult year,” Phelps said.

Contact Thomas L. Gallagher at tgallagher@joc.com.