U.S. steel exports decline in February

The United States exported 779,010 net tons of steel in February, a 0.4 percent decline from the previous month and an 11.3 percent year-over-year drop.    The United States exported 779,010 net tons of steel in February, a 0.4 percent decline from the previous month and an 11.3 percent year-over-year drop, according to the American Institute for International Steel (AIIS).
   During the month, U.S. steel exports to Canada reached 392,571 net tons, a 3.4 percent decline from February 2015.
   U.S. steel exports to Mexico in February totaled 295,530 net tons, a 15.8 percent year-over-year drop.
   Meanwhile, U.S. steel exports to the European Union tumbled 63.3 percent from February 2015 to 17,824 net tons.
   “The strong dollar has been applying downward pressure on exports, but it has lost a bit of ground recently to the Canadian dollar and the Mexican peso, though the exchange rate remains well above the level of a year ago,” the AIIS said. “If ‘peak dollar’ has come and gone, and if the economies of Canada and Mexico perform well in 2016, there could be significant growth in exports this year. But those ifs are huge.”
   Overall, for the first two months of 2016, total U.S. steel exports stood at 1.56 million net tons, a 13.5 percent decline from the corresponding period in 2015.