U.S. Steel Shipments Flattened Over the Prior Month

SEATTLE (Scrap Monster): The monthly data published by the American Iron and Steel Institute (AISI) suggests notable decline in steel shipments during the month of August this year compared with the same month a year ago. On the contrary, the shipments remained more or less unchanged over the prior month.

According to AISI data, the steel mills shipped 7.675 million net tons in August 2022. This is modestly down by 8.7% from the shipments of 8.405 million net tons in the same month a year before. The shipments during the month remained nearly unchanged from the previous month. It must be noted that the shipments had totalled 7.676 million net tons in the month of July this year.

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The cumulative shipments by U.S. domestic steel mills totalled 61.325 million net tons during the initial eight-month period of the year. This is marginally down by 2.1% when matched with the year before. The steel shipments by these mills had totalled 62.654 million net tons during Jan-Aug ‘21.

The report provides year-on-year comparison of shipment volumes of various steel products during the first eight months of 2022. The shipments of corrosion-resistant sheet and strip during this period have declined heavily by nearly 7% over the previous year. The shipments of hot rolled sheet were down by 6%, whereas those of cold rolled sheet recorded 12% year-on-year decline, AISI noted.