Steel Products Prices North America
November Apparent Steel Supply Down 20% YTD and Down 13% Over October
Written by Brett Linton
January 17, 2016
According to the latest data released from the US Department of Commerce and the American Iron and Steel Institute, apparent steel supply for the month of November 2015 was 7,710,331 net tons. Apparent steel supply is calculated by adding domestic steel shipments and finished US steel imports and subtracting total US steel exports. Foreign steel imports accounted for 25.5 percent of Apparent Steel Supply. This is 5.1 percent lower than November 2014.
November supply represents a 1,927,018 ton or 20.0 percent decrease compared to the same month one year ago when apparent steel supply was 9,637,349 tons. This is attributed to a 1,180,216 ton or 15.5 percent drop in domestic shipments and a decline in finished imports of 988,467 tons or 33.5 percent. A decrease in total exports of 241,665 tons or 25.3 percent negated the change. The net trade balance between imports and exports was a surplus of 1,741,430 tons in November 2015, 998,891 tons less than that of November 2014.
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 published this analysis on Friday the 15th.
When compared to last month when apparent steel supply was at 8,868,427 tons, November supply decreased by 1,158,096 tons or 13.1 percent. This decrease is attributed to a 911,602 ton or 12.4 percent decrease in domestic shipments and a 319,408 ton or 14.0 percent decline in finished imports. A decline in total exports of 72,913 tons or 9.3 percent slightly negated the change.
The table below shows the monthly averages for the last five years. Note that these averages are calculated for January through November figures for a more equal comparison. 2015 figures remain lower than 2014 data for all items listed.
To see an interactive graphic of our Apparent Steel Supply History, visit the Apparent Steel Supply page in the Analysis section of the SMU website. If you need any assistance logging in or navigating the website, contact us at info@SteelMarketUpdate.com or 800-432-3475.
Brett Linton
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