Prices
February Apparent Steel Supply at 8.8 Million Tons
Written by Brett Linton
April 11, 2018
February apparent steel supply declined over January to 8,773,912 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.
February apparent steel supply saw a 272,058 ton or 3.2 percent increase compared to the same month one year ago. This change was due to an increase in domestic shipments of 293,249 tons or 4.1 percent. Exports also fell 22,206 tons or 2.7 percent. A 43,397 ton or 2.1 percent decrease in finished imports lessened the overall rise in apparent steel supply.
The net trade balance between U.S. steel imports and exports was a surplus of 1,672,615 tons imported in February, down from 2,047,892 tons from the prior month, and down from 1,894,327 tons one year ago. Foreign steel imports accounted for 23.4 percent of apparent steel supply in February, down from 25.7 percent last month, and down from 24.7 percent one year ago.
Compared to the prior month when apparent steel supply was 9,158,850 tons, February supply decreased by 384,938 tons or 4.2 percent. This was due to a decrease in domestic shipments of 110,731 tons or 1.5 percent, and a decrease in finished imports of 300,038 tons or 12.7 percent. Total exports fell 25,830 tons or 3.1 percent, slightly negating the overall decrease in apparent steel supply.
The table below shows year-to-date totals for each statistic over the last five years.
To see an interactive graphic of our Apparent Steel Supply history (example below), 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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