For the 12 months ending October 2017, U.S. mill shipments of long products increased by 6.6% year on year, (y/y). U.S. domestic consumption of long products increased by 3.2% over the same timeframe. Import share of long products averaged 20.1% over the past 12 months, down from 22.6% for the 12 months ending October 2016.
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 which were down 2.1% y/y. Wire Rod mill shipments were up 8.3% y/y. Rebar mill shipments advanced 9.4% y/y. Merchant bar mill shipments were up by 4.6% y/y as Light Shapes were up 3.0% y/y. Beam mill shipments recorded a gain of 6.4% y/y.
Domestic consumption of long products increased for all product groups averaging 3.2%. Wire rod domestic shipments were up the most, higher by 4.9% y/y, followed by Merchant bars, up 4.6% y/y. Beams moved-up 4.0% y/y, while Light shapes domestic consumption was up 2.2% y/y. Rebar gained 2.1% y/y and Angle & Channels domestic shipments managed a 1.0% increase y/y.
Import market-share of domestic consumption was down y/y, when all long products are grouped together, averaging 20.1% for the 12 months ending October 2017. This average was 2.5% lower compared than the 22.6% ratio for the 12 months ending October 2016.
Rebar import market-share fell the most, down 5.0 percentage points y/y to 19.2%. Wire rod’s import market-share fell by 2.0 percentage points y/y to 38.4%. Beam’s import market-share fell 1.4 percentage point y/y to 12.1%. Merchant bars import market-share increased 0.2 percentage point y/y to 12.6%. Angles & Channels import market-share increased 0.3 percentage points y/y to 8.4%. Light shapes import market-share fell 1.3 percentage point y/y to 11.6%.
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 U.S. long product marketplace.
*Rebar, Wire Rod, Merchant Bars, Light Shapes, Heavy Angle & Channels and Beams