[Hermann the Cherusker]

Like I said, couldn't get the numbers to tie, Apparent Consumption=Production+Imports-Exports should equal 107 million tons.According to the chart it's 115.75.

You need to consider change in inventory. There's lots of steel lying on the ground awaiting purchase sometimes, because it is cheaper to keep on making it than to scale back operations.

[Toddsterpatriot]

You need to consider change in inventory. There's lots of steel lying on the ground awaiting purchase sometimes, because it is cheaper to keep on making it than to scale back operations.

I agree. The thing is, with the chart provided, there doesn't appear to be any draw down of that inventory. Every year the apparent consumption is 7-10 million tons (or more) less than production+imports-exports.