Prices
May Apparent Steel Supply at 4+ Year High
Written by Brett Linton
July 10, 2014
Apparent steel supply for May was 10,321,747 net tons, the highest figure Steel Market Update has in its recorded history back to January 2010 (by no means a historical record). Steel Market Update calculates apparent steel supply by adding domestic shipments and finished US imports and subtracting total US exports. May supply represents a 1,262,877 ton or 13.9 percent increase compared to the same month one year ago. This is primarily due to the massive spike in 2014 imports, with final May imports up 42.1 percent or 1,195,058 net tons over May 2013 tonnage. Domestic shipments and finished imports also increased over levels one year prior, while exports decreased. The net trade balance between imports and exports was a surplus of 2,997,743 tons in May, an increase of 78.9 percent from the same month last year, and also the highest figure in our 4+ year recorded history.
When compared to last month when apparent steel supply was at 9,925,287 tons, May supply increased by 396,461 tons or 4.0 percent. This is due to an increase in domestic shipments, total imports, and finished imports, but a decrease in total exports.
On a year to date basis, the 2014 YTD averages are all above what we saw during in the previous two years, with the exception of total exports. They are significantly higher than the averages we saw in 2010 and 2011.
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{amchart id=”120″ Apparent Steel Supply- Domestic Shipments, Semi-Fin Imports, Exports}
Brett Linton
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