Looking ahead, the American Institute for International Steel said that exports do not seem likely to substantially increase anytime soon.
The United States exported 811,211 net tons of steel in June, a 1 percent increase from May but an 8.4 percent decline from June 2015, according to the American Institute for International Steel (AIIS).
During the first half of 2016, U.S. steel exports slipped 10.5 percent year-over-year to 4.75 million net tons.
U.S. steel exports to Canada for the first half of the year totaled 2.42 million net tons, while steel exports to Mexico reached 1.81 million net tons, year-over-year declines of 5.8 percent and 11.1 percent, respectively.
In addition, U.S. steel exports to the European Union fell 36 percent from the first six months of 2015 to 122,615 net tons.
“With the two countries (Canada and Mexico) that buy about 90 percent of the steel that is shipped out of the United States in such poor shape – and with the U.S. dollar maintaining its high value against the loonie and the peso – exports do not seem likely to substantially increase anytime soon,” AIIS said.
AIIS: U.S. steel exports fall 10.5% in first half 2016
