SMU Data and Models
Apparent Steel Supply Edges Down in July
Written by David Schollaert
September 12, 2023
US apparent steel supply declined 2% in July to 8.28 million net tons compared to the previous month, according to data from the US Department of Commerce and the American Iron and Steel Institute (AISI).
Apparent steel supply is determined by combining domestic steel mill shipments and finished US steel imports, then deducting total US steel exports.
July’s apparent supply total was 952,951 tons lower than the same month one year prior when supply stood at 9.23 million tons. Figure 2 shows July trade statistics year over year (YoY) for each of the past three years.
Apparent steel supply has fluctuated for much of the year, ending slightly lower in July. Despite the month-on-month decline, apparent steel supply has remained well above its low of 7.5 million net tons seen in February. Figure 3 shows monthly statistics over the last three months.
Figure 4 shows year-to-date (YTD) monthly averages for each statistic over the last five years. The average monthly apparent supply level for 2023 thus far is 8.15 million tons.
To see an interactive graphic of our Apparent Steel Supply history, click here. If you need any assistance logging into or navigating the website, contact us at info@steelmarketupdate.com.
David Schollaert
Read more from David SchollaertLatest in SMU Data and Models
SMU Survey: Buyers’ Sentiment tumbles as caution increases
SMU’s Buyers’ Sentiment Indices resumed their downward trend this week, erasing the modest recovery seen two weeks ago.
Service centers: Mill orders down further in April
SMU’s Mill Order Index (MOI) declined for a second straight month in April after repeated gains at the start of the year, according to our latest service center inventories data.
SMU Survey: Mill lead times edge lower
Sheet and plate lead times declined across the board this week, according to buyers responding to the latest SMU market survey. While our lead time ranges were unchanged compared to mid-April levels, average production times for each steel product we measure have declined from they were two weeks ago.
SMU Survey: Most buyers say price negotiations back on the table
Domestic mills are largely negotiable on spot prices, according to the majority of steel buyers responding to our latest market survey.
SMU Scrap Survey: Current, Future Sentiment Indices log declines
However, in a month plagued by tariff and economic uncertainty, both current and near-term outlooks for our scrap survey respondents remained surprisingly optimistic.