Steel Products Prices North America
October Apparent Steel Supply Down 6.0 Percent Over Last Year
Written by Brett Linton
December 15, 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 October 2016 was 8,338,361 net tons. Apparent steel supply is calculated by adding domestic steel shipments and finished US steel imports, then subtracting total US steel exports.
October apparent steel supply represents a 530,066 ton or 6.0 percent decrease compared to the same month one year ago when apparent steel supply was 8,868,427 tons. The majority of this change came from a decline domestic shipments, which were down 7.3 percent or 536,671 tons. Finished imports fell 0.6 percent or 12,596 tons. Total exports declined 2.4 percent or 19,201 tons.
The net trade balance between US steel imports and exports was a surplus of +1,947,314 tons imported in October 2016, 308,312 tons or 13.7 percent less than that of October 2015. Foreign steel imports accounted for 27.2 percent of apparent steel supply, up 1.5 percent over the same month one year ago.
When compared to last month when apparent steel supply was 8,106,754 tons, October supply increased by 231,608 tons or 2.9 percent. This was primarily due to an increase in finished imports, up 6.5 percent or 138,676 tons month over month. The remainder of the increase was from domestic shipments rising 0.9 percent or 63,489 tons and total exports declining 3.7 percent or 29,443 tons.
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 ten months of each year for an equal comparison. 2016 figures 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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