Mexico and Canada buy more American steel in April 2016

Sales to the European Union however dropped by 7.2 percent to 18,673 net tons in April, a 37.4 percent decline from the same time last year. Overall U.S. steel exports in April fell 6 percent year-over-year to 794,537 net tons, according to the American Institute for International Steel.

Historically, Mexico and Canada are by far the biggest foreign buyers of steel made in the United States, where the steel industry mainly serves the domestic market. Automakers, some of the U.S. steel industry's biggest customers, however increasingly operate plants in Canada and Mexico. 

Mexico's economy has been getting stronger while Canada's has been underperforming at a growth rate of 2.4 percent, when 2.9 percent was expected.

"In Mexico, meanwhile, growth has been fairly steady recently, despite challenges created by low oil prices," the AIIS stated in a release. "The 2016 forecast appears to be brighter for Mexico, but the Canadian dollar has gained some value against the U.S. dollar since late 2015, while the Mexican peso has remained at historic lows, boosting American exports to our northern neighbor."