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 November 2016 was 8,144,758 net tons. Apparent steel supply is calculated by adding domestic steel shipments and finished US steel imports, then subtracting total US steel exports.
November apparent steel supply represents a 434,427 ton or 5.6 percent increase compared to the same month one year ago when apparent steel supply was 7,710,331 tons. The majority of this change came from an increase in domestic shipments and finished imports, which were up 4.1 percent and 9.4 percent respectively. Total exports rose 2.4 percent, slightly negating the rise in apparent steel supply.
The net trade balance between US steel imports and exports was a surplus of +2,076,372 tons imported in November 2016, 19.2 percent higher than that of November 2015. Foreign steel imports accounted for 26.4 percent of apparent steel supply, up 0.9 percent over the same month one year ago.
When compared to last month, when apparent steel supply was 8,338,361 tons, November supply decreased by 2.3 percent. This was primarily due to a decrease in finished imports, down 5.4 percent month over month. The remainder of the decrease was from domestic shipments declining 1.6 percent. Total exports declined 4.8 percent over last month.
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 eleven 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 LintonRead more from Brett Linton
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