According to the latest data released from the U.S. Department of Commerce and the American Iron and Steel Institute, apparent steel supply for the month of July 2016 was 9,095,385 net tons. Apparent steel supply is calculated by adding domestic steel shipments and finished US steel imports, then subtracting total US steel exports.
July apparent steel supply represents a 314,036 ton or 3.3 percent decrease compared to the same month one year ago when apparent steel supply was 9,409,421 tons. This is due to a 239,199 ton or 3.2 percent decrease in domestic shipments, a 149,793 ton or 5.7 percent decline in finished U.S. steel imports, and a decrease in total U.S. steel exports of 74,956 tons or 9.2 percent.
The net trade balance between US steel imports and exports was a surplus of +2,527,953 tons imported in July 2016, 55,404 tons or 2.2 percent more than that of July 2015. Foreign steel imports accounted for 27.3 percent of apparent steel supply, down 0.7 percent over the same month one year ago.
SMU Note: Our Premium Level apparent steel supply analysis goes into much more detail as we provide data on apparent steel supply for flat and long products. We will publish this analysis to our Premium level members early next week.
When compared to last month when apparent steel supply was at 9,098,316 tons, July supply decreased by 2,931 tons or 0.03 percent. Although flat month over month, there was a 276,255 ton or 3.6 percent decrease in domestic shipments, a 200,209 ton or 8.8 percent increase in finished U.S. steel imports, and a decrease in total U.S. steel exports of 73,115 tons or 9.0 percent
The table below shows year to date totals for each statistic over the last five years. Note that these averages are calculated through the first seven months of the year. 2016 figures so far remain lower than most of the previous years 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 LintonRead more from Brett Linton
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