Analysis
September 12, 2025
Apparent steel supply remains elevated in July
Written by Brett Linton
The volume of finished steel that entered the US market in July declined less than 1% from June, holding near one of the highest rates seen in recent years, according to SMU’s analysis of Department of Commerce and American Iron and Steel Institute (AISI) data.
This “apparent steel supply” metric is calculated by combining domestic mill shipments with finished US steel imports then subtracting total US exports.

