March Apparent Steel Supply Jumps to 14-Month High

March apparent steel supply rose nearly 1.5 million tons from February’s dip, now at 8.96 million net tons, according to the latest U.S. Department of Commerce and American Iron and Steel Institute data. This is the highest supply level seen since January 2020’s 9.52 million tons. March also marks the largest month-over-month increase in supply seen in 11 years, going back to March 2010 when supply jumped 22.6% or 1.50 million tons. Aside from the February 2020 slip, apparent supply has increased each month since April 2020. Recall that April and May of 2020 were the two lowest levels seen in the last 10 years at 6.53 million tons and 6.60 million tons, respectively. March supply is up 327,000 tons compared to the same month in 2020.

Apparent steel supply, a proxy for demand, is determined by combining domestic steel mill shipments and finished U.S. steel imports, then deducting total U.S. steel exports.

Brett Linton

Brett Linton is a digital operations analyst for Steel Market Update, where he began his career. Linton has been in the steel industry since 2010. He has held roles as a category manager and strategic insights director at Reibus before returning to SMU in 2024. He is a graduate of The University of North Georgia with a degree in Finance and Accounting. Brett can be reached at brett@steelmarketupdate.com or 724-314-0179.