UK iron and steel exports index falls 4% year-on-year in April

The official index of iron and steel exports from the UK fell by 4% year-on-year in April, according to figures released by the government’s Office for National Statistics.

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Month-on-month, the index showed a drop in iron and steel exports of 6.6% in April. 

Prices also fell, with the iron and steel export price index down 8.4% year-on-year, while month-on-month it fell just 0.9% compared with March 2012.

The volume index of iron and steel imported into the UK also fell 1.4% year-on-year, compared with April 2011, while the figures showed a month-on-month drop in April of 2.7%.

Import prices rose 4.4% year-on-year in April, against the same period in 2011.

However, prices for iron and steel imports fell 2.8% month-on-month in April, compared with March.

The seasonally adjusted value of iron and steel exports slumped 10.3% year-on-year to £446 million, while the value of imports rose to 5.9% year-on-year to £558 million, leaving a trade deficit of £112 million.