Canadian Steel Shipments Rise Sharply in January
02/17/2010 - January steel product shipments from Canadian metals service centers were 9.2% higher than in January 2009, according to the latest Metals Activity Report from MSCI.
January steel product shipments from Canadian metals service centers were 9.2% higher than in January 2009, according to the latest Metals Activity Report from the Metals Service Center Institute (MSCI). January shipments of aluminum from U.S. metals service centers were also 2.9% higher than in January 2009.
U.S. metals centers shipped about 2.58 million tons of steel products in January, some 0.9% below year-ago levels. Inventories reached about 6.26 million tons by the end of January, 26.2% lower than those of January 2009. At current shipping rates, that stockpile is equal to a lean, 2.4-month supply.
Canadian service centers shipped 444,400 tons of steel products during January. Canadian inventories totaled 1.18 million tons at the end of the month, equal to a 2.7-month supply.
U.S. metals service centers shipped 93,600 tons of aluminum in January, ending the month with 254,400 tons of aluminum on hand, equal to a 2.7-month supply at current shipping rates. Canadian service centers shipped 10,600 tons of aluminum in January, about 5.7% lower than a year ago. Canadian service center aluminum inventories were 30,300 tons by month-end, 9.2% lower than a year ago and equal to a 2.9-month supply at current shipping rates.
The Metals Activity Report (MAR), based on data from metals service centers in the United States and Canada, is produced by the Metals Service Center Institute and a third-party econometrics and strategy firm, McCoy, Scott & Co.
Founded in 1909, the Metals Service Center Institute has more than 375 members operating from about 1200 locations in the U.S., Canada, Mexico, and elsewhere in the world. Together, MSCI members constitute the largest single group of metals purchasers in North America, amounting each year to more than 55 million tons of steel, aluminum, and other metals, with about 300,000 manufacturers and fabricators as customers. MSCI’s membership also includes most ferrous and non-ferrous industrial metals producers in North America. Metals service centers inventory and distribute metals and provide first-stage fabrication services.
