November 20, 2008

US steel shipments in May 2008 down by 0.8% YoY

The American Iron and Steel Institute reported that for the month of May 2008, US steel mills shipped 9,008,000 net tons, a 0.8% decrease from the 9,087,000 net tons shipped in May 2007 and a 4.2% decrease from the 9,403,000 net tons shipped in the previous month, April 2008.

A year to year comparison of year to date shipments shows the following changes within major market classifications:
1. Service centers and distributors up by 4.3%
2. Automotive down by 4.1%
3. Construction and contractors’ products down by 2.7%
4. Oil and gas up by 5.6%

AISI’s estimate is based on reports from companies representing about 75% of the US’s raw steel capability and includes revisions for previous months and year.