Analysis
May 8, 2024
March apparent steel supply at 7-month high
Written by Brett Linton
The amount of new steel available to the US market, dubbed apparent steel supply, rebounded 7% in March, according to SMU calculations on US Department of Commerce and American Iron and Steel Institute (AISI) data. Apparent steel supply is calculated by combining domestic steel mill shipments and finished US steel imports, then deducting total US steel exports.
Following last month’s dip, apparent supply jumped to 8.60 million short tons (st) in March, now the highest level seen since August. This monthly gain can be mostly attributed to a rise in finished imports and domestic shipments. While high in relation to the last few months, March supply is just 2% higher than the average monthly supply rate seen over the past year (8.43 million st).
