Prices
August Apparent Steel Supply Steady at 9.1 Million Tons
Written by Brett Linton
October 8, 2016
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 August 2016 was 9,115,482 net tons and the percentage of imports was 26.2 percent of the market. Apparent steel supply is calculated by adding domestic steel shipments and finished US steel imports, then subtracting total US steel exports.
August apparent steel supply represents a 21,254 ton or 0.2 percent decrease compared to the same month one year ago when apparent steel supply was 9,136,737 tons. Although this is a relatively flat comparison between the two months, domestic shipments were up 72,485 tons or 1.0 percent, finished imports declined 4.3 percent or 108,199 tons, and exports declined 1.7 percent or 14,460 tons.
The net trade balance between US steel imports and exports was a surplus of +2,243,590 tons imported in August 2016, 8,680 tons or 0.4 percent more than that of August 2015. Foreign steel imports accounted for 26.2 percent of apparent steel supply, down 1.1 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 later this week.
When compared to last month when apparent steel supply was at 9,095,385 tons, August supply increased by 20,097 tons or 0.2 percent. Again, although flat month over month, there was a 189,907 ton or 2.6 percent increase in domestic shipments, a 95,895 ton or 3.9 percent decrease in finished U.S. steel imports, and an increase in total U.S. steel exports of 73,914 tons or 10.0 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 eight 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 Linton
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