Prices
February 13, 2020
December Apparent Steel Supply Rises from November's Lull
Written by Brett Linton
Apparent U.S. steel supply increased to 8.8 million net tons in December, according to data from the American Iron and Steel Institute and U.S. Department of Commerce. While up over the previous three months, December supply remains low compared to the last two years. Last month we reported that November supply was at a three-year low, the lowest seen since December 2016 when supply was 8.1 million tons. Apparent steel supply, a proxy for demand, is determined by adding domestic steel shipments and finished U.S. steel imports, then subtracting total U.S. steel exports.
December apparent supply saw a 131,000-ton decrease (1.5 percent) compared to the same month one year ago. This change was primarily due to a 333,000-ton decrease in finished imports, which was nearly negated by a 217,000-ton increase in domestic shipments.
