US Steel Exports Soften in July

US Steel Exports Soften in July

U.S. steel exports fell 14.4 percent in July from June but exceeded the depressed levels of 2009.

July's 896,500 tons of exports were up 26.7 percent from July 2009 totals, government figures show. "While exports were down for the month, they continue to run substantially ahead of 2009 totals as the world market slowly pulls out of the recession," said David Phelps, president of the American Institute for International Steel.

U.S. steel imports climbed 18.6 percent in July compared with June.

"The month-on-month decline in steel exports reflects the softening marketplace for steel at the beginning of the summer, especially for NAFTA exports, which react to market conditions without a time lag," Phelps said.

Through July, U.S. steel exports totaled 7.1 million tons, up 53.3 percent from the first seven months of 2009.

-- Contact Joseph Bonney at jbonney@joc.com.