The US was a net exporter of steel in August for the first time in 50 years.
According to US Government data, total exports in August were 800skt while total imports were 975skt. Semi-finished imports were 156kt. Imports of hot rolled for conversion were more than 30kt for the port serving the re-rolling operation in Pittsburgh, California.
These imports alone were sufficient to make the USA a net exporter for the month. Other rerolling operations are also importing, but those data are more difficult to segregate and could be as high as another 30kt based on estimates.
“With some developing countries’ demand improving prior to many developed countries, along with the weak dollar, there appears to be good opportunities for exports of American made steel going forward,” said David Phelps, president, American Institute for International Steel.