U.S. steel exports dropped in November

AIIS said U.S. steel exports slid 5.6 percent from October to November, falling below 1 million net tons for the first time since February 2014.    U.S. steel exports slid 5.6 percent from October to November, falling below 1 million net tons for the first time since February 2014, according to the American Institute for International Steel.
   However, November 2014’s 953,829 net tons of exports were 1.6 percent above the level a year earlier, the association said. 
   U.S. exports to Canada decreased 10.7 percent month-to-month and 7.5 percent year-over-year to 479,393 net tons. Meanwhile, exports to Mexico remained unchanged from October, but increased 15.8 percent from a year ago at 350,592 net tons.
   The European Union reduced its purchases of U.S. steel to 21,736 net tons, more than 38 percent less than in October, and almost 5 percent less than in November 2013, according to AIIS.
   “Exports to two Latin American countries increased dramatically in November, though, with the total going to Peru swelling more than 37-fold to 23,456 net tons, and the amount going to Panama growing almost 25-fold to 12,426 net tons. Both numbers were several times higher than they were the previous November,” AIIS said.
   Total U.S. exports for the year were down almost 6 percent through November at 11.12 million net tons, while Canada showed a 5.3 percent dip to 5.92 million net tons. Year-to-date exports were up 2.6 percent to Mexico to 3.83 million net tons, and down more than 11 percent to the European Union to 310,234 net tons.
   “Notwithstanding the sharp increases in November, January-to-November exports to Peru were about half what they were in 2013 at 38,119 net tons, while exports to Panama during the same time period were down almost three-quarters to 24,383 net tons,” AIIS said.