US apparent supply climbed to 8.11 million net tons in October, up 4% from 7.82 million tons in September, 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.
October’s apparent supply total was 381,849 tons lower than the same month one year ago when supply was 8.50 million tons. Figure 2 shows October trade statistics year over year (YoY) for each of the past three years.
Apparent supply has varied throughout the year, a trend displayed in the chart below (Figure 3). In February, apparent supply dipped to 7.56 million tons, still the lowest total year to date, though May and September, were not far off at 7.82 million tons each. 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 7.58 million tons.
David SchollaertRead more from David Schollaert
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