The data on US exports of steel ingots, blooms, billets, and slabs indicate a consistent downward trend from 2013 to 2023. The value for 2023 stood at 320.35 thousand metric tons, a decline of 1.85% from 2022. The trend observed is a gradual annual decrease with a 2-year year-on-year average decline of approximately 1.85% and a 5-year compound annual growth rate (CAGR) of -1.86%. Looking ahead to 2028, forecasts project a continued downward trend with a forecasted 5-year CAGR of -1.64%, resulting in a cumulative decline of 7.94% over the interval.
Future trends to watch for include potential impacts from global trade policies, technological advancements in steel production, and shifts in demand due to infrastructure projects and green energy initiatives. The resilience of the steel market will also depend on economic conditions and US-China trade relations.
