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Metal Shipment Growth Rate Rebounds in August 2010
09/20/2010 - The rate of growth of steel and aluminum shipments from North American metals service centers rebounded in August, according to the latest Metals Activity Report from the Metals Service Center Institute. Inventories of both metals changed very little during the month in both the U.S. and Canada.
The rate of growth of steel and aluminum shipments from North American metals service centers rebounded in August, according to the latest Metals Activity Report from the Metals Service Center Institute. Inventories of both metals changed very little during the month in both the United States and Canada.
August shipments of steel products from U.S. metals service centers totaled nearly 3.2 million tons, an increase of 25.5% compared to year-ago shipments. Steel shipments for the first eight months of the year of about 23.7 million tons are 19.3% higher than during the 2009 period. U.S. steel inventories of 7.4 million tons at the end of August were 32.4% larger than stockpiles of August 2009. This volume represents a 2.3-month supply at current shipping rates.
Shipments of steel from Canadian metal centers totaled 489,600 tons in August, a 17.8% increase compared to the same month last year. Year-to-date shipments of nearly 3.8 million tons are 15.5% higher than a year ago. Canadian steel inventories totaled about 1.3 million tons at the end of August, 33.8% higher than a year ago and equal to a 2.6-month supply at current shipping rates.
Shipments of aluminum products from U.S. metals service centers in August totaled 126,600 tons, an increase of 47.6% compared to a year ago. For the first eight months of the year, U.S. aluminum shipments of 860,400 tons were 22.9% ahead of those from last year. Aluminum stockpiles at metals service centers totaled 322,300 tons at the end of August, a 23.4% increase compared to last year. That volume equals a 2.5-month supply at current shipping rates.
In Canada, aluminum shipments of 11,300 tons in August were 11.3% above a year ago, bringing year-to-date shipments to 89,800 tons, an increase of 5.6% from last year. Aluminum inventories totaled 31,700 tons at Canadian metals service centers at the end of August, 7.5% more than a year ago and equal to a 2.8-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 360 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 almost all ferrous and non-ferrous industrial metals producers in North America. Metals service centers inventory and distribute metals and provide first-stage fabrication services.
