Metal Shipments Continue Growth Trend in October
11/17/2010 - North American metals service center shipments continued to increase at robust rates in October, according to the Metals Activity Report from the Metals Service Center Institute. Inventory-to-sales ratios remained stable for both steel and aluminum in the U.S. and Canada.
North American metals service center shipments continued to increase at robust rates in October, according to the Metals Activity Report from the Metals Service Center Institute. Inventory-to-sales ratios remained stable for both steel and aluminum in the U.S. and Canada.
October steel shipments from U.S.-based service centers totaled about 3.03 million tons, or 15.8% more than during the same month in 2009. For the first 10 months of the year, total U.S. steel shipments of about 29.9 million tons were 19.4% higher than during the same period last year. At the end of October, steel inventories at U.S. service centers of 7.42 million tons were 25.1% above last year’s stockpiles. This volume represents a 2.4-month supply at current shipping rates.
In Canada, metals service centers shipped 481,600 tons of steel in October, up 11.6% from a year ago. Shipments for the first 10 months of the year of 4.77 million tons were 14.7% above those for the 2009 period. Month-end Canadian steel inventories of 1.33 million tons were 37.2% above stocks at the end of October 2009. At current shipping rates, that is equal to a 2.8-month supply.
October shipments of aluminum products from U.S.-based metals service centers totaled 116,100 tons, or 25.6% more than year-ago shipments. For the first 10 months of the year, aluminum shipments of 1.09 million tons were up 24.6% from last year. Aluminum inventories, which have been rising in absolute terms since November 2009, totaled 337,000 tons at the end of October. That stockpile was 30.6% larger than totals of a year ago and, at current shipping rates, equal to a 2.9-month supply, the highest since February.
Canadian shipments of aluminum products totaled 11,700 tons in October, an increase of 6.1% from October 2009. Year-to-date total shipments of 113,600 tons at the end of October were up 6.0%. Aluminum inventories at Canadian metals centers of 31,900 tons were 19.9% larger than at the end of October 2009 and equal to a 2.7-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.
