Iron and Steel Overview: U.S. Steel Shipments

 
Steel industry output and consumption are very sensitive to business cycles. When the economic growth is strong, steel demand and supply increase; when the economy is soft, the demand for steel declines. Worldwide, the industry experienced significant declines in 1974-75, 1982, and 1992. The figure shows statistics for U.S. shipments and U.S. consumption for the last ten years. The gap between shipments and consumption reflects net imports of steel into the U.S.
Annual Statistical Report 1994, American Iron and Steel Institute, Washington, D.C. 1995