AIIS: U.S. steel exports see mixed results in April

The United States exported 794,537 net tons of steel in April, a 2.5 percent increase from March, but a year-over-year drop of nearly 6 percent.    The United States exported 794,537 net tons of steel in April, a 2.5 percent jump from March, driven by month-over-month increases in steel exports to Mexico and Canada, according to the American Institute for International Steel (AIIS).
   However, on a year-over-year basis, U.S. steel export volumes fell nearly 6 percent in April.
   During the month, the U.S. exported 410,341 net tons of steel to Canada, 305,054 net tons of steel to Mexico and 18,673 net tons of steel to the European Union.
   Overall, for the first four months of 2016, the U.S. exported 3.13 million net tons of steel, an 11.7 percent decline from the corresponding period in 2015, reflecting lower steel export volumes to Canada, Mexico and the European Union.
   Canada’s economic growth during the first quarter fell short of expectations, with an annualized growth rate of 2.4 percent. Meanwhile, in Mexico, growth has been fairly steady recently, despite challenges created by low oil prices, the AIIS said.
   “The 2016 forecast appears to be brighter for Mexico, but the Canadian dollar has gained some value against the U.S. dollar since late 2015, while the Mexican peso has remained at historic lows,” the AIIS said.