• Skip to main content

    Prices

    July 15, 2021

    May Apparent Steel Supply Surpasses 9 Million Tons, at a 16-Month High

    Written by Brett Linton

    May apparent steel supply rose 340,000 tons over April to 9.11 million net tons, according to the latest U.S. Department of Commerce and American Iron and Steel Institute data. This is now the highest suppy level seen since January 2020, surpassing the March 2021 recent high of 8.96 million tons. May supply is up by 2.51 million tons compared to the same month in 2020 (recall that April and May of 2020 were the two lowest levels seen in the last 10 years).

    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.

    Read more from Brett Linton

    Latest in Prices

    Mills seek more scrap after lower prices fail to attract tons

    Several mills that bought October scrap early last week are still asking for additional supplies, scrap market participants said. The reason: the mills' initial prices did not attract enough of the raw material, they said. A trading source based in northern Ohio said three mills have contacted his firm seeking offers for additional tons. He said the mills asked for offers even if prices were higher than their original buys last week.

    Nucor increases spot HR to $1,240/ton

    Nucor said on Monday, Oct. 12, that its consumer spot price (CSP) for hot-rolled (HR) coil will be $1,240 per short ton (st) this week, a $10/st increase from a week earlier. The CSP for HR coil from California Steel Industries (CSI) on the West Coast will be $1,305/st, up $15/st from the prior week. Nucor is still offering lead times of three to five weeks, according to the letter to customers. You can track mill price announcements on our website. Steel Market Update (SMU) published a weekly price assessment on Tuesday, Oct. 6, showing HR coil prices averaging $1,270/st, up $10/st from the previous week. We will update our prices on the evening of Tuesday, Oct. 13.