US steel trade deficit widens in July

Sep 05, 2013 | 02:48 PM | Corinna Petry

Tags  U.S. international trade, U.S. imports, U.S. exports, steel, scrap, copper, aluminum, IHS Global Insight Gregory Daco

CHICAGO — The U.S. trade deficit for iron and steel mill products increased sharply in July from the previous month, while the trade surplus for metalliferous ores and metal scrap expanded, according to an analysis of the latest U.S. Bureau of Economic Analysis data.

Iron and steel exports in July increased 1.2 percent to $925 million but imports rose 3.9 percent to nearly $1.37 billion, resulting in a 10-percent increase in the U.S. trade deficit to $440 million. But the year-to-date trade deficit of more than $3.69 billion was down 28.2 percent from the first seven months of last year.....

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