For the 12 months ending August 2017, US mill shipments of long products* increased by 2.9%. US domestic consumption of long products increased by 0.9% over the same timeframe. Import share of long products averaged 21.1% over the past 12 months, down 1.5% year on year, (y/y).
Table 1 presents data for long product steel shipments from mills defined as domestic shipments plus exports as well as apparent domestic consumption, defined as domestic shipments plus imports.
Mill shipments increased for all products except Angles & Channels, (-2.8% y/y) led higher by Wire Rod, up 5.8% y/y and Rebar, up 5.0% y/y. Merchant bars moved up by 2.5% y/y and Beams managed a gain of 0.5% y/y.
Domestic consumption of long products was a mixed bag, with three product group moving higher and three products lower y/y. Wire rod advanced the most, up 4.4% y/y, followed by Merchant bars, up 2.1% and Beams up 0.3% y/y. Rebar domestic consumption fell a fraction, off 0.5% y/y, while Angle & Channels declined by 1.8% and light shapes y/y were off 1.2% y/y.
Import market-share of domestic consumption was down for all long products from an average of 22.6% for the 12 months ending August 2016 to 21.1% for the past 12 months. Rebar import market-share fell the most, down 4.2 percentage point’s y/y. Wire rod’s import market-share fell 0.8 percentage point and Beam’s import market-share fell 0.2 percentage point. Products with higher import market-shares y/y include: Merchant bars, (-1.7 percentage point’s y/y) Angles & Channels, (-0.7 percentage point y/y). Light shapes import market-share showed no change y/y, remaining at 12.4%.
At Gerdau, we closely monitor production, domestic consumption and imports share of long product steel because it is important for our business and our customers businesses to understand the changes taking place in the US long product marketplace.
*Rebar, Wire Rod, Merchant Bars, Light Shapes, Heavy Angle & Channels and Beams