U.S., Canadian Metals Shipments Hold Steady in March
04/20/2011 - March shipments of steel and aluminum products from U.S. and Canadian metals service centers showed continued steady growth from the previous year, according to MSCI’s latest Metals Activity Report.
March shipments of steel and aluminum products from U.S. and Canadian metals service centers showed continued steady growth from the previous year, according to the latest Metals Activity Report from the Metals Service Center Institute.
The report shows that steel shipments from U.S. metals service centers totaled 3.82 million tons in March, representing a 19.0% increase over March 2010 shipments. First-quarter shipments at 10.43 million tons were 23.5% ahead of the year-ago first quarter. By the end of March, steel product inventories were nearly 8.02 million tons, 23.5% larger than a year ago and, at current shipping rates, equal to a 2.1-month supply.
Canadian service center steel shipments totaled 615,000 tons in March, 19.1% more than March 2010 shipments. First-quarter total shipments of 1.66 million tons were up 18.1% from the same period a year ago. By the end of March, Canadian steel product inventories were 1.53 million tons, some 13.1% larger than at the same time in 2010 and, at current shipping rates, equal to a 2.5-month supply.
March shipments of aluminum products from U.S. metals service centers totaled 141,300 tons, or 30.9% more than March 2010 shipments. First-quarter shipments totaled 376,000 tons, a 29% rise from the year-ago quarter. Month-end inventories of aluminum totaled 356,000 tons, or 30.1% more of the metal than at the same time last year. At current shipping rates, this was equal to a 2.5-month supply.
Shipments of aluminum from Canadian metal centers in March totaled 13,700 tons, or 9.1% more than March 2010 shipments. First-quarter Canadian shipments of aluminum totaled 36,700 tons, 9.4% more than a year ago. By the end of March, aluminum inventories of 29,400 tons were 4.2% below amounts at the same time last year. At current shipping rates, this equaled a 2.1-month supply.
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 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.
