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Growth in Metals Shipments Slows in June
07/19/2011 - U.S. and Canadian metals service center shipments of both steel and aluminum increased in June from 2010 levels according to the latest Metals Activity Report from MSCI, although the rate of growth slowed significantly.
U.S. and Canadian metals service center shipments of both steel and aluminum increased in June from 2010 levels, although the rate of growth slowed significantly, according to the latest Metals Activity Report from the Metals Service Center Institute. The report noted that inventory levels decreased in the U.S. but increased slightly in Canada.
The report also shows that steel shipments from U.S. service centers totaled 3,579.5 thousand tons in June 2011, representing an increase of 11.2% from June 2010. Year-to-date steel shipments were 20,861.3 thousand tons through the first six months, an increase of 18.6% from the same period in 2010.
By the end of June, U.S. steel product inventories were 7,936.9 thousand tons, an increase of 7.6% over June 2010 and a decrease of 4.3% from last month. At the current shipping rate, this represents 2.2-month supply, a decrease of 3.3% from a year ago and a decrease of 6.4% from last month.
Canadian service centers shipped 535.6 thousand tons of steel products in June 2011, representing an increase of 4.4% from June 2010. Year-to-date steel shipments were 3,239.0 thousand tons, an increase of 12.6% from the same period in 2010.
By the end of June, Canadian steel product inventories were 1,559.6 thousand tons, an increase of 16.6% from June 2010 and an increase of 1.6% from last month. At the current shipping rate, this represents 2.9-month supply, an increase of 11.7% from a year ago and an increase of 0.2% from last month.
June shipments of aluminum products by U.S. service centers totaled 134.3 thousand tons, an increase of 8.8% from June 2010. Year-to-date aluminum shipments were 763.6 thousand tons, an increase of 24.0% from the same period in 2010.
By the end of June, U.S. inventories of aluminum products were 351.2 thousand tons, an increase of 12.9% over June 2010 and a decrease of 3.2% from last month. At the current shipping rate, this represents 2.6-month supply, an increase of 3.8% from a year ago and a decrease of 8.2% from last month.
Canadian aluminum shipments from service centers during June totaled 13.4 thousand tons, an increase of 6.5% from June 2010. For the year to date, aluminum shipments were 74.5 thousand tons, an increase of 8.6% from the same period in 2010.
By the end of June, Canadian inventories of aluminum products were 32.1 thousand tons, an increase of 4.7% from June 2010 and an increase of 4.9% from last month. At the current shipping rate, this represents 2.4-month supply, a decrease of 1.6% from a year ago and a decrease of 2.5% from last month.
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.
