Apparent Steel Supply Strong in April

The net trade balance between U.S. steel imports and exports was a surplus of 2,731,950 tons imported in April, up 1,061,285 tons or 63.5 from the prior month, but down 161,033 tons or 5.6 percent from one year ago. Foreign steel imports accounted for 21.3 percent of apparent steel supply in April, up from 19.4 percent in March, but down from 29.4 percent one year ago.

Compared to the prior month when apparent steel supply was 9,601,722 tons, April supply rose by 61,038 tons or 0.6 percent. This was due to an increase in finished imports of 192,198 tons or 10.3 percent, somewhat dampened by a decrease in domestic shipments of 117,565 tons or 1.4 percent and an increase in total exports of 13,595 tons or 2.3 percent.

The figure below shows year-to-date totals for each statistic over the last five years. Apparent steel supply remains on the high side this year compared to previous years, as do domestic shipments and semifinished imports. Total imports are mixed for 2019, while finished imports are marginally down and exports are down significantly.

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.