Steel producers in the United States sharply reduced exports of steel products in the first quarter of 2015 due to a stronger dollar. According to the American Institute for international steel (American Institute for International Steel, AIIS), shipments of steel products from the United States decreased in the first three months by 7 percent to 2.7 million tons.
The Institute bluntly pointed out that the problems of American exporters due primarily to the high rate of the US dollar against other world currencies. There also expect a further fall in steel exports due to the weakening global demand and the continued strengthening of the dollar.
Metallurgical companies in the US may face even greater difficulties with the export of its products warned in the AIIS.
A key focus of U.S. exports of steel during the first quarter was Canada. Steel exports to Canada amounted to 1.3 million tonnes, sharply down by 17 percent compared to the same period last year. On the other hand, exports to Mexico increased by 7 percent during the quarter to 1.05 million tons. Us exports of steel to the EU soared by 388 percent to 111 200 tons.
Export growth was observed in the following commodity groups: cold-rolled sheet (177 of 200 tons, which is 10 percent more than in the same period last year) and stainless steel (247 500 tons, or 39 percent more than in the same period last year).
Most affected by the rising dollar plate mill structural steel (164 000 tonnes, a drop of 39 percent), OCTG pipe OCTG (98 of 300 tons, 23 percent less than in the same period last year), valves (86 to 800 tons, a drop of 31%) and pipe (33 700 tonnes, a drop of 60 percent).