Apparent supply is defined as domestic mill shipments to domestic locations plus imports. Sources are the American Iron and Steel Institute and the Department of Commerce. The three month moving average (3MMA) of the total tonnage of flat rolled sheet and strip supply was 4,469,473 tons per month in the period July through September.
This was up by 4.0 percent from the April through June period and by 4.2 percent from July through September 2012. Table 1 shows the performance by product over three, twelve and twenty-four month periods. All product groups, except electro galvanized, were up in the last three months and every product was up year-over-year. Hot band had the best performance compared to three months ago being up by 7.3 percent.
Figure 1 below shows the long term supply picture for Hot Rolled, Cold Rolled and Hot Dipped Galvanized since January 2006. The recent improvement in hot rolled has only put it back to the level of early 2012. Cold rolled has been drifting down for over a year. Hot Dipped Galvanized had a strong bump during the first half 2012, declined in the second half 2012 and has been gradually improving again this year.
Peter WrightRead more from Peter Wright
Latest in Steel Products Prices North America
SMU Price Ranges: Sheet Slips Again on Strike, But Is a Bottom in Sight?
Sheet prices slipped again this week on news of the United Auto Workers (UAW) strike and continued caution among some consumers.
HRC vs. Galv Price Spread Widened This Summer
The spread between hot-rolled coil (HRC) and galvanized sheet base prices widened throughout the summer as hot rolled prices declined faster than those of galvanized.
SMU Price Ranges: Sheet Slips Again on UAW Strike Fears
Sheet prices fell across the board ahead of what many market participants predict will be a strike by the United Auto Workers (UAW) later this week.
Nucor Lowers Plate Prices by $40/t
Nucor Corp. will lower plate prices by $40 per ton ($2 per cwt) with the opening of its October order book.
SMU Price Ranges: Sheet Prices Move Lower, No Bottom Yet
Sheet prices have fallen this week, after a small pause last week when prices saw mixed results. Tags have now been largely trending lower since July.