Service Center Growth Momentum Increases in February
03/20/2012 - February service center shipments of aluminum and steel were up sharply from the same month in 2011 in both the U.S. and Canada, with inventory positions remaining constant in the U.S. and deteriorating only slightly in Canada, according the latest report from MSCI.
February service center shipments of aluminum and steel were up sharply from the same month in 2011 in both the U.S. and Canada, with inventory positions remaining constant in the U.S. and deteriorating only slightly in Canada, according the latest report from the Metals Service Center Institute.
According to the report, U.S. Service Centers shipped some 3,655.3 thousand tons of steel products in February 2012, representing an increase of 14.3% from February 2011. Year-to-date steel shipments were 7,378.5 thousand tons, an increase of 11.6% from the same period in 2011. By the end of February, steel product inventories were 8,924.5 thousand tons, an increase of 12.5% over February a year ago and an increase of 1.8% from last month. At the current shipping rate, this represents 2.4 months’ supply in inventory, a decrease of 1.6% from a year ago.
February shipments of aluminum products by U.S. Service Centers totaled 130.0 thousand tons, an increase of 14.8% from the same month in 2011. Year-to-date aluminum shipments were 263.6 thousand tons, an increase of 12.3% from the same period in 2011. By the end of February, inventories of aluminum products were 374.7 thousand tons, an increase of 4.6% over February a year ago and an increase of 0.1% from last month. At the current shipping rate, this represents 2.9 months’ supply in inventory, a decrease of 8.8% from a year ago.
Canadian Service Centers shipped 541.5 thousand tons of steel products in February 2012, which represents an increase of 8.2% from February 2011. For 2012, year-to-date steel shipments were 1,102.3 thousand tons, an increase of 5.4% from the same period in 2011. By the end of February, steel product inventories were 1,728.9 thousand tons, an increase of 13.5% from February a year ago and an increase of 3.0% from last month. At the current shipping rate, this represents 3.2 months’ supply in inventory, an increase of 4.9% from a year ago.
February shipments of aluminum products by Canadian Service Centers in February totaled 13.5 thousand tons, an increase of 24.2% from the same month in 2011. Year-to-date, aluminum shipments were 27.5 thousand tons, an increase of 20.1% from the same period in 2011. By the end of February, inventories of aluminum products were 34.8 thousand tons, an increase of 14.5% from February a year ago and an increase of 1.9% from last month. At the current shipping rate, this represents 2.6 months’ supply in inventory, a decrease of 7.8% from a year ago.
Founded in 1909, the Metals Service Center Institute, based in Rolling Meadows, Ill., has nearly 400 members operating from more than 1,500 locations in the U.S, Canada, Mexico and throughout 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. MSCI conducts seven national conferences for members annually along with networking events that are held across the 30+ chapters and offer access to educational programs for all levels of employees from entry-level to executive. To date nearly $2 million in scholarships have been awarded through its chapters.
