Steel Products Prices North America
January Apparent Steel Supply Rises to 9.5 Million Tons
Written by Brett Linton
March 12, 2020
Apparent U.S. steel supply jumped to 9.5 million net tons in January, according to data from the American Iron and Steel Institute and U.S. Department of Commerce. January apparent supply is now on the high-side compared to the last few years, a nice recovery from November’s three-year low and other late-2019 lows. 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.
January apparent supply is 372,000 tons (3.8 percent) lower than the same month one year ago. This change was due to an 817,000 ton decrease in finished imports, partially negated by a 456,000 ton increase in domestic shipments.
The net trade balance between U.S. steel imports and exports was a surplus of 2,491,000 tons imported in January, up 139.9 percent from the prior month, but down 12.4 percent from one year ago. Finished steel imports accounted for 17.2 percent of apparent steel supply in January, up from 15.3 percent in December, but down from 24.8 percent one year ago.
Compared to the prior month when apparent steel supply was 8.8 million tons, January supply increased 691,000 tons or 7.8 percent. The increase was due to a 515,000 ton rise in domestic shipments and a 289,000-ton increase in imports, slightly reduced by a 112,000 ton rise in exports.
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
Thin demand keeps plate prices hovering at lowest levels since February
Participants in the domestic plate market say spot prices appear to have hit the floor, and they continue to linger there. They say demand for steel remains thin, with plate products no exception.
SMU Price Ranges: HR crawls back to $800/ton
SMU’s HR price stands at $800/st on average, up $5/st from last week. The modest gain came as the low end of our range firmed, and despite the high end of our range declining slightly.
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.