NEW YORK U.S. steel exports fell to their lowest level in more than a year in November due to major decreases in semifinished material.
Steel exports totaled 905,404 tonnes for the month, down 15.8 percent from 1.08 million tonnes in October, according to data from the U.S. Commerce Departments Import Administration. That was also lower than the 1.12 million tonnes reported in the same 2011 month.
Exports of semifinished material plunged 94.4 percent to 2,371 tonnes after reaching 42,563 tonnes in October, largely due to declines in shipments to Oman, Italy and the Dominican Republic. Other major decreases were seen in heavy structural shapes, down 9.4 percent to 93,018 tonnes; and hot-dipped galvanized sheet and strip, off 9.7 percent to 92,316 tonnes following a decline in shipments to Mexico.
Exports of standard rail products dropped to 6,368 tonnes, down 84.5 percent from 41,144 tonnes in October.
Monthly increases were logged in line pipe, up 15.5 percent to 45,915 tonnes; and oil country tubular goods (OCTG), up 5.2 percent to 28,911 tonnes.