Steel Products Prices North America
March Apparent Steel Supply at 9.6 Million Tons
Written by Brett Linton
May 16, 2019
March apparent steel supply was calculated at 9,601,722 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.
March apparent steel supply saw a 333,756 ton or 3.4 percent decrease compared to the same month one year ago. This change was primarily due to a decrease in finished imports of 642,125 tons or 25.6 percent. A decrease in exports of 279,797 tons or 32.2 percent and a rise in domestic shipments of 28,572 tons or 0.3 percent lessened the overall year-over-year decrease in apparent steel supply.
The net trade balance between U.S. steel imports and exports was a surplus of 1,670,664 tons imported in March, down 160,529 tons or 8.8 percent from the prior month, and down 793,147 tons or 32.2 percent from one year ago. Foreign steel imports accounted for 19.4 percent of apparent steel supply in March, down from 19.7 percent in February, and down from 25.2 percent one year ago.
Compared to the prior month when apparent steel supply was 8,896,298 tons, March supply rose by 705,424 tons or 7.9 percent. This was due to an increase in domestic shipments of 583,686 tons or 7.5 percent, an increase in finished imports of 111,365 tons or 6.4 percent, and a decrease in total exports of 10,373 tons or 1.7 percent.
The figure below shows year-to-date totals for each statistic over the last five years.
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
Read more from Brett LintonLatest in Steel Products Prices North America
SMU successfully completes IOSCO review
SMU has successfully completed an external review of all our prices. The review has concluded that they algin with principles set by the International Organization of Securities Commissions (IOSCO).
Domestic plate prices could heat up despite so-so demand, market sources say
Some sources also speculated that plate could see further price increases thanks to modest but steady demand, lower imports, mill maintenance outages, and end markets less immediately affected by tariff-related disruptions.
SMU Price Ranges: HR holds, galv slips amid competing market narratives
SMU’s sheet and plate prices see-sawed this week as hot-rolled (HR) coil prices held their ground while prices for galvanized product slipped.
Nucor carries $875/ton HR list price into week seven
Nucor is keeping hot-rolled (HR) coil prices unchanged again this week, according to its latest consumer spot price (CSP) notice issued on Monday, Oct. 6
SMU Price Ranges: A newsy week sees modest price gains despite a quiet spot market
Market participants predicted that prices should be at or near a bottom. But while most seemed to agree on that point, many also said they saw little upside given a quiet spot market and ongoing concerns about demand.