The U.S.: Steel Exporter?

TW: Mix a domestic demand contraction, a lower dollar and stronger international markets together and what does one get? Net exports of steel...for the first time in decades. Folks get edgy because they think a "strong" dollar denotes weakness even though folks also bemoan the artificially "weak" Chinese yuan (which lowers Chinese imports and encourage Chinese exports). You cannot have it both ways. U.S. consumption needs to become less dominant, savings more prominent at which point the U.S. dollar will find a better level perhaps lower perhap higher.

From Floyd Norris NYT:
"The United States was a net exporter of steel in August, a trade group reports.

The American Institute for International Steel — a group of companies that import steel and therefore like free trade — says government data indicates that steel exports during August were about 975,000 tons, while imports were about 800,000 tons.

It was the first month in more than half a century that the United States was a net exporter of steel.

“This dramatic development shows the increasing importance of U.S. exports of steel to international markets which are returning to stronger levels of demand, as well as the high value placed on the quality of the American made steel and the efficient service provided by steel trading companies,” said David Phelps, the group’s president.

I suspect it shows just what a recession and a collapse of construction can do for the trade deficit. Construction companies that are firing many of their workers do not need as much steel. Nor do automakers who have been forced to scale back production..."
http://norris.blogs.nytimes.com/2009/10/13/how-to-become-a-net-steel-exporter/