Prices
November Apparent Steel Supply Spikes 12.2% Over Last Year
Written by Brett Linton
January 9, 2015
Apparent steel supply for the month of November 2014 is 9,637,349 net tons. Apparent steel supply is calculated by adding domestic steel shipments and finished US steel imports and subtracting total US steel exports.
November supply represents a 1,044,666 ton or 12.2 percent increase compared to the same month one year ago. This is primarily due to the massive spike in 2014 imports, with total November imports up 42.5 percent or 1,101,600 tons over November 2013 tonnage. Domestic shipments, finished imports, and total exports also increased over levels one year prior, up 0.4, 53.2, and 1.6 percent respectively. The net trade balance between imports and exports was a surplus of 2,740,322 tons in November, an increase of 65.7 percent from the same month last year.
SMU Note: Our Premium Level apparent steel supply analysis goes into more detail as we provide data on apparent steel supply for flat and long products. We plan to publish this analysis later next week.
When compared to last month when apparent steel supply was at 10,954,832 tons (the highest recorded level since the Great Recession), November supply decreased by 1,317,484 tons or 12.0 percent. A 10.2 percent decline in domestic shipments and a 14.6 percent decrease in finished imports accounted for the majority of the apparent supply decrease.
On a year to date basis (YTD), the 2014 averages remain above what we experienced during previous years, with the exception of total exports which have remained slightly down to steady. At this time, the U.S. is on pace to exceed 2013 apparent steel supply by approximately 12.5 percent.
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
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