Steel Products Prices North America
Apparent Steel Supply Up 7.1 Percent YOY in November
Written by Brett Linton
January 14, 2018
Apparent steel supply for the month of November totaled 8,723,547 net tons, according to the latest data from the U.S. Department of Commerce and the American Iron and Steel Institute. Apparent steel supply is calculated by adding domestic steel shipments and finished U.S. steel imports, then subtracting total U.S. steel exports.
November apparent steel supply saw a 578,789 ton or 7.1 percent increase compared to the same month one year ago. The majority of this change came from an increase in domestic shipments, increasing 695,669 tons or 10.3 percent. Finished imports also increased slightly, up 36,393 tons or 1.7 percent from 12 months prior. Total exports lessened the overall increase in apparent steel supply as they rose by 153,273 tons or 21.0 percent.
The net trade balance between U.S. steel imports and exports was a surplus of 1,879,150 tons imported in November, down from 2,252,363 tons from the prior month, and down from 2,076,372 tons one year ago. Foreign steel imports accounted for 25.1 percent of apparent steel supply in November, down from 26.4 percent the same month one year ago.
Compared to the prior month, when apparent steel supply was 9,355,621 tons, November supply decreased by 632,074 tons or 6.8 percent. This was primarily due to a decrease in finished imports, which fell 354,459 tons or 14.0 percent. Domestic shipments also declined, down 290,831 tons or 3.8 percent. Total exports fell 13,216 tons or 1.5 percent, slighly negating the overall decrease in apparent steel supply.
The table below shows year-to-date totals for each statistic over the last five years. Note that these averages are calculated through the first nine months of each year for an equal comparison. As was the case in previous months, the 2017 data points are higher than the 2016 figures, but are mixed compared to 2013-2015 data for all items listed.
To see an interactive graphic of our Apparent Steel Supply history, visit the Apparent Steel Supply page in the Analysis section of the SMU website. If you need any assistance logging in or navigating the website, contact us at info@SteelMarketUpdate.com or 800-432-3475.
Brett Linton
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