Steel Products Prices North America
August Apparent Steel Supply
Written by Brett Linton
October 8, 2014
Apparent steel supply for August was 10,252,449 net tons, down slightly from July which was the largest tonnage month since the beginning of the Great Recession. Apparent steel supply is calcualted by adding domestic shipments and finished US imports and subtracting total US exports. Note that our Premium member analysis breaks down apparent steel supply by flat and long products.
August supply represents a 836,077 ton or 8.9 percent increase compared to the same month one year ago. This is primarily due to the massive spike in 2014 imports, with total August imports up 28.5 percent or 820,068 tons over August 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 2,650,175 tons in August, an increase of 53.1 percent from the same month last year.
When compared to last month’s high when apparent steel supply was at 10,588,648 tons, August supply decreased by 336,199 tons or 3.2 percent. This is due to a decrease in finished imports as well as an increase in total exports.
SMU Note: Our Premium level member analysis goes into more detail as we provide data on apparent steel supply for flat and long products.
On a year to date basis (YTD), the 2014 averages remain above what we measured during the previous two years, with the exception of total exports. At this time, the U.S. is on pace to exceed 2013 apparent steel supply by approximately 4 percent. We should end the year very close to the 100 million net ton mark.
You can view the interactive graphic of our Apparent Steel Supply history below when you are logged into the website and reading the newsletter online. If you need help accessing or navigating the website, don’t hesitate to contact us at info@SteelMarketUpdate.com or 800-432-3475.
{amchart id=”120″ Apparent Steel Supply- Domestic Shipments, Semi-Fin Imports, Exports}
Brett Linton
Read more from Brett LintonLatest in Steel Products Prices North America
CRU: Longs pricing trends diverge in North, South America
Most longs prices in the US were unchanged this month, except for rebar, which declined by $1.50/cwt ($30/short ton) m/m. While end-use demand is stable, inventories are well-stocked, keeping purchases limited. Domestic availability is sufficient to meet current demand, hindering the appetite for imported material. Meanwhile, prices for scrap remained under pressure in June, with […]
Nucor cuts plate prices by $125/ton, cites ongoing competition
Nucor Corp. announced that its plate mill group would cut prices for as-rolled, discrete, and normalized plate with the opening of its August order book.
Nucor cuts HR price for fourth straight week
Nucor lowered its consumer spot price (CSP) for hot-rolled (HR) coil by another $10 per short ton (st) for the first week of July. The steelmaker said in a letter to customers on Monday that its CSP base price for the week will be $670/st for all of its sheet mills with the exception of California Steel Industries (CSI).
Cliffs sets $720/ton HR price with opening of August books
Cleveland-Cliffs on Tuesday announced its monthly hot-rolled (HR) coil price of $720 per short ton (st) with the official opening of its August order book. The rate is down from last month’s price of $800/st.
CRU: Demand weakness continues to weigh on global sheet markets
Demand has remained persistently weak across the globe for sheet steel, weighing on prices. US HR coil prices fell the furthest this week as high-volume, low-priced deals were transacted as mills looked to fill order books and competed with one another amid relative demand weakness. Meanwhile, European prices were also down due to low demand […]