Steel Products Prices North America
January Apparent Steel Supply Nears 10 Million Tons
Written by Brett Linton
April 7, 2019
January apparent steel supply was calculated at 9,902,993 net tons, according to data released late last week. Apparent steel supply is determined by adding domestic steel shipments and finished U.S. steel imports, then subtracting total U.S. steel exports. This is the highest level seen since March 2018 when apparent supply was 9,935,479 tons.
January apparent steel supply saw a 744,143 ton or 8.1 percent increase compared to the same month one year ago. This change was primarily due to an increase in domestic shipments of 443,436 tons or 5.8 percent, followed by a decrease in total exports of 194,617 tons or 23.4 percent and an increase in finished imports of 106,090 tons or 4.5 percent.
The net trade balance between U.S. steel imports and exports was a surplus of 2,842,299 tons imported in January, up 1,467,829 tons or 106.8 percent from the prior month, and up 794,406 tons or 38.8 percent from one year ago. Foreign steel imports accounted for 24.8 percent of apparent steel supply in January, up from 18.8 percent in December, but down from 25.7 percent one year ago.
Compared to the prior month when apparent steel supply was 8,971,570 tons, January supply rose by 931,423 tons or 10.4 percent. This was primarily due to an increase in finished imports of 773,226 tons or 45.8 percent, followed by an increase in domestic shipments of 275,664 tons or 3.5 percent. The month-over-month rise in apparent supply was somewhat lessened by an increase in total exports of 117,468 tons or 22.6 percent.
To see an interactive graphic of our Apparent Steel Supply history (example below), 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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