In a recent report released by the US Department of Commerce, it has been revealed that the United States witnessed a substantial surge in the export of hot rolled sheet in May 2023. The data showcases an impressive 40.4% increase compared to the previous month, and an astounding 64.4% rise when compared to May 2022.
The total volume of hot rolled sheet exports from the US in May amounted to a staggering 77,534 metric tons. In terms of monetary value, HRC exports reached a noteworthy $83.7 million, marking a significant leap from the $55.3 million recorded in the previous month, and a substantial increase from the $45.2 million in the same period last year.
When analyzing the top destinations for US HRC exports, it is evident that Mexico emerged as the largest recipient in May, with a substantial intake of 55,598 metric tons. This figure reflects a significant increase from the previous month's 36,810 metric tons and a remarkable growth from the 29,547 metric tons recorded in May 2022. Following Mexico, Canada stood as the second most prominent recipient with an import of 21,755 metric tons. However, no other destinations received a significant quantity (1,000 metric tons or more) of US HRC exports during May.
These promising figures showcase the robust performance of the US HRC export market, indicating a strong demand and a positive outlook for the industry. As the US continues to solidify its position as a major player in the global steel market, stakeholders eagerly anticipate further growth and expansion in the coming months.
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