US steel shipments continued to fall in November marking the ninth consecutive month of declines.
Steel shipments fell to 6.94mn short tons (st) in November, a decline of 12pc from the prior year, according to data from the American Iron and Steel Institute.
Shipments were down by 3.8pc compared with the prior month.
The Argus US hot rolled coil (HRC) Midwest ex-works assessment dropped by 64pc between November 2021 and 2022, led by oversupply in the market and declines in demand.
Total shipments through November were 82.61mn st, down by 4.9pc compared to the prior year. By product through November hot rolled and hot dipped galvanized (HDG) steel shipments were both down by 9pc, while cold rolled steel fell by 14pc.
