Metal Shipment Growth Slows in November
12/21/2011 - Service center shipments grew at slightly slower rates in November for both steel and aluminum in the U.S. and Canada, according to the latest Metals Activity Report from the Metals Service Center Institute. Steel inventory levels declined in the U.S. and Canada from last month.
Service center shipments grew at slightly slower rates in November for both steel and aluminum in the U.S. and Canada, according to the latest Metals Activity Report from the Metals Service Center Institute. Steel inventory levels declined in the U.S. and Canada from last month.
The report shows that steel shipments from U.S. service centers totaled 3,301.0 thousand tons in November 2011, an increase of 10.6% from November 2010. Year-to-date steel shipments were 37,753.7 thousand tons, an increase of 15.0% from the same period in 2010.
By the end of November, steel product inventories were 8,100.5 thousand tons, an increase of 11.3% over November a year ago and a decrease of 3.3% from last month. At the current shipping rate, this represents 2.5 months of supply on hand, an increase of 0.7% from a year ago.
November shipments of aluminum products by U.S. service centers totaled 120.8 thousand tons, an increase of 9.5% from the same month in 2010. Year-to-date aluminum shipments were 1,392.0 thousand tons, an increase of 15.5% from the same period in 2010.
Inventories of aluminum products were 359.5 thousand tons at the end of November 2011, an increase of 3.4% over November a year ago and an increase of 0.4% from last month. At the current shipping rate, this represents 3.0 months of supply on hand, a decrease of 5.6% from a year ago.
Canadian service centers shipped 534.7 thousand tons of steel products in November 2011, representing an increase of 4.3% from November 2010. Year-to-date steel shipments were 5,869.6 thousand tons, an increase of 11.0% from the same period in 2010.
Steel product inventories were 1,346.4 thousand tons at the end of November, an increase of 3.9% from a year ago and a decrease of 9.4% from last month. At the current shipping rate, this represents 2.5 months of supply on hand, a decrease of 0.4% from a year ago.
November shipments of aluminum products by Canadian service centers totaled 13.2 thousand tons, an increase of 4.7% from the same month in 2010. Year-to-date aluminum shipments were 136.7 thousand tons, an increase of 8.3% from the same period in 2010.
Inventories of aluminum products were 35.3 thousand tons at the end of November 2011, an increase of 14.0% from November a year ago and a decrease of 2.9% from last month. At the current shipping rate, this represents 2.7 months of supply on hand, an increase of 8.8% 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.
