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Growth in Metal Shipments Continues to Slow
08/17/2011 - Service center shipments increased from year-ago levels, but growth rates continue to slow from earlier this year for both steel and aluminum in Canada and for steel in the U.S., according to the latest Metals Activity Report from the Metals Service Center Institute. Aluminum shipments in the U.S. declined slightly from July 2010.
Service center shipments increased from year-ago levels, but growth rates continue to slow from earlier this year for both steel and aluminum in Canada and for steel in the U.S., according to the latest Metals Activity Report from the Metals Service Center Institute. Aluminum shipments in the U.S. declined slightly from a year ago. Inventory levels increased for both metals in the U.S. and Canada.
The report also shows that steel shipments from U.S. service centers totaled 3,121.0 thousand tons in July 2011, representing an increase of 8.9% from July 2010. Year-to-date steel shipments were 23,982.2 thousand tons, an increase of 17.2% from the same period in 2010.
By the end of July, U.S. steel product inventories were 8,411.4 thousand tons, an increase of 12.8% over July 2010 and an increase of 6.0% from last month. At the current shipping rate, this represents 2.7 months supply in inventory, an increase of 3.6% from a year ago.
July shipments of aluminum products from U.S. service centers totaled 117.5 thousand tons, a decrease of 0.5% from July 2010. Year-to-date aluminum shipments were 881.0 thousand tons, an increase of 20.1% from the same period a year ago.
Inventories of aluminum products were 354.2 thousand tons at the end of July, an increase of 11.4% over a year ago and an increase of 0.8% from last month. At the current shipping rate, this represents 3.0 months supply in inventory, an increase of 11.9% from a year ago.
Canadian service centers shipped 468.6 thousand tons of steel products in July, representing an increase of 11.1% from July 2010. Year-to-date steel shipments were 3,707.7 thousand tons, an increase of 12.4% from the same period in 2010.
At the end of July, steel product inventories were 1,619.9 thousand tons, an increase of 25.0% from a year ago and an increase of 3.9% from last month. At the current shipping rate, this represents 3.5 months supply in inventory, an increase of 12.5% from last year.
July shipments of aluminum products from Canadian service centers totaled 10.7 thousand tons, an increase of 9.0% from the same month in 2010. Year-to-date aluminum shipments were 85.3 thousand tons, an increase of 8.7% from the same period in 2010.
Inventories of aluminum products were 33.0 thousand tons at the end of July, an increase of 3.0% from July 2010 and an increase of 2.9% from last month. At the current shipping rate, this represents 3.1 months supply in inventory, a decrease of 5.5% from a year ago.
Founded in 1909, the Metals Service Center Institute has more than 370 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.
