U.S. steel exports decline slightly in June

In June 2024, U.S. steel exports decreased by 1.6% from May, reaching a total of 700,834 tons, according to preliminary data from the U.S. Department of Commerce. This decline represents a 14.3% drop compared to June 2023. The export value for June was recorded at USD 1.26 billion, down slightly from USD 1.28 billion in May and significantly from USD 1.44 billion in June of the previous year.

Mexico and Canada were the primary destinations for U.S. steel exports during June. Mexico received 359,243 tons, which was a 5.2% increase from May but a 15.4% decrease y/y. Canada imported 287,767 tons, a decrease of 9.1% from the previous month and 17.9% from the same month last year. Other destinations, including the Dominican Republic, China, India, Italy, and Germany, accounted for smaller volumes.

The main steel products exported in June included hot-dip galvanized strip, hot-rolled coil, edged sheet, cold-rolled coil, and rolled steel. The most significant y/y declines were observed in hot-rolled steel exports, which decreased by 33%, while cold-rolled steel exports saw a slight increase of 3%.