Steel Products Prices North America
July 11, 2022
Apparent Steel Supply Rises to 9.5 Million Tons in May
Written by Brett Linton
US apparent steel supply increased 4% from April to May, rising to 9.48 million net tons, according to the latest US Department of Commerce and American Iron and Steel Institute data. Recall that supply reached a six-year high last September at 9.92 million tons, declining each month through February. May’s supply level is now the third highest monthly level seen in the past year, the eighth highest level since the April 2020 downturn, and in line with the supply levels previously seen in 2018-2019.
Apparent steel supply, a proxy for demand, is determined by combining domestic steel mill shipments and finished US steel imports, then deducting total US steel exports.
