U.S., Canadian Metals Shipments Surged in January
02/18/2011 - Shipments of steel and aluminum from metals service centers in the United States and Canada surged in January, according to MSCI’s latest Metals Activity Report.
Shipments of steel and aluminum from metals service centers in the United States and Canada surged in January, according to the latest Metals Activity Report from the Metals Service Center Institute. Sequential, month-end inventory levels also rose for both metals in both nations.
The report shows that steel shipments from U.S. metals service centers totaled 3.42 million tons in January, up 32.5% from the same month in 2010 and well above December shipments of 2.82 million tons. By the end of January, U.S. steel inventories totaled 8.03 million tons, 28.3% larger than January 2010 stockpiles and equal to a 2.4-month supply at current shipping levels.
In Canada, January steel shipments from metals centers totaled 545,100 tons, a rise of 22.7% from year-earlier volume and substantially higher than shipments of 380,800 tons in December. By the end of January, inventories were 1.48 million tons, 25.1% above stocks at the end of January 2010 and equal to a 2.7-month supply.
January aluminum shipments from U.S. metals service centers were 121,400 tons, 29.7% above year-earlier shipments and well ahead of December shipments of 100,300 tons. By the end of the month, U.S. aluminum inventories totaled 352,900 tons, 38.7% more than at the end of January last year and equal to a 2.9-month supply.
Canadian metals centers shipped 12,000 tons of aluminum in January, or 13.4% more than a year ago. Inventories at the end of the month totaled 31,600 tons of aluminum, just 4.0% more than a year ago and equal to a 2.6-month supply at current shipping levels.
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 almost all ferrous and non-ferrous industrial metals producers in North America.
