Steel Shipments, Inventories Increase at U.S., Canadian Metal Centers
10/20/2009 - Shipments of steel and aluminum from metals service centers in the U.S. and Canada rose slightly in September, as did steel inventories, according to the latest Metals Activity Report from the Metals Service Center Institute. Inventories of aluminum, however, continued to decline in both countries.
Shipments of steel and aluminum from metals service centers in the United States and Canada rose slightly in September, as did steel inventories, according to the latest Metals Activity Report from the Metals Service Center Institute. Inventories of aluminum, however, continued to decline in both countries.
According to the report, steel product shipments from U.S. metals service centers totaled about 2.56 million tons in September, a 31.4% decline from September 2008 but a slight improvement from August shipments. Year-to-date steel shipments of nearly 22.4 million tons are down 41.2% from the same nine-month period last year.
Monthly steel inventories increased for the first month since August 2008, when it peaked at 11 million tons. September’s inventories totaled 5.79 million tons, a 3% increase compared to the end of August, but still 45.7% below September 2008 figures. At current shipping rates, this volume is equal to a 2.3-month supply.
In Canada, service centers shipped 455,100 tons of steel in September, 14.8% lower than a year ago, but 9.5% higher than in August. Through the first nine months of the year, Canadian shipments totaled 3.7 million tons, down 30.4% from the same period in 2008.
By the end of September, Canadian metals centers held steel inventories of 957,300 tons, 0.17% higher than in August, but down 33.9% from a year ago. At current shipping rates, Canadian inventories represent a 2.1-month supply of steel.
Aluminum product shipments from U.S. metals service centers totaled 86,400 tons during September, a 37% decrease compared to the same month last year. Year-to-date shipments of 786,500 tons are 41.7% below the same period in 2008. At the end of September, aluminum inventories totaled 254,700 tons, down about 2.5% from August stockpiles and off 43.5% from a year ago. At current shipping rates, that represents a 2.9-month supply of the light metal.
In Canada, aluminum shipments from metals centers totaled 11,100 tons, a decrease of 24.3% from last September. The nine-month total, at 96,200 tons, is down 25.3% from last year. Aluminum product inventories in Canada dropped to 28,700 tons, 2.4% below August figures and 22.4% off from a year ago. At current shipping rates, that represents a 2.6-month supply.
The Metals Activity Report, 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 375 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 nonferrous industrial metals producers in North America. Metals service centers inventory and distribute metals and provide first-stage fabrication services.
