Metal Service Center Shipment Levels Strengthen in May
06/20/2011 - U.S. and Canadian metals service center shipments of steel and aluminum products returned to more robust growth rates during May, according to the latest Metals Activity Report from MSCI.
U.S. and Canadian metals service center shipments of steel and aluminum products returned to more robust growth rates during May, according to the latest Metals Activity Report from the Metals Service Center Institute. The report noted that the higher growth rates generally reversed the weaker shipment trend that had been reported in April.
The report also shows that steel shipments from U.S. metals service centers totaled 3.50 million tons in May, or 20.1% more metal than shipments during May 2010. YTD shipments through the first five months were 17.28 million tons, up 20.3% from a year ago. By the end of May, U.S. steel inventories totaled nearly 8.3 million tons, up 19% from stockpiles of a year ago and, at current shipping rates, equal to a 2.4-month supply.
Canadian metals centers steel shipments totaled 528,300 tons in May, a 14.1% increase. YTD shipments through the first five months were 2.70 million tons, up 14.4% from a year ago. Canadian steel inventories of 1.54 million tons were 10.4% larger than at the end of May 2010 and equal to a 2.9-month supply at current shipping rates.
May shipments of aluminum products from U.S. metals centers totaled 127,400 tons, a 31.4% increase over May 2010. For the year to date, shipments of aluminum totaled 629,300 tons, or 27.8% more volume of the metal than last year. Month-end aluminum inventories of 362,900 tons were 29.4% greater than at the end of May 2010 and, at current shipping rates, equal to a 2.8-month supply.
Canadian aluminum shipments during May totaled 12,500 tons, 10.9% more than service center volume during the same month last year. Shipments for the year of 61,100 tons were up 9.1% from a year ago. Inventories at the end of May of 30,600 tons of aluminum were 6.9% below year-ago stockpiles and, at current shipping rates, equal to a 2.5-month supply.
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 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.
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 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.
