U.S., Canadian Steel Shipments See Double-Digit Increases for March
04/20/2010 - Shipments of steel products from U.S. metals service centers in March totaled 3.21 million tons, a 24.0% increase from a year ago, according to the latest Metals Activity Report from the Metals Service Center Institute. In Canada, March steel shipments totaled 516,400 tons—15.9% more than the same month a year ago.
March shipments of both steel and aluminum products from metals service centers in the United States and Canada rose at double-digit rates from year-ago volume, according to the latest Metals Activity Report from the Metals Service Center Institute. Inventories of both metals rose slightly in the two countries.
Shipments of steel products from U.S. metals service centers in March totaled 3.21 million tons, a 24.0% increase from a year ago. First-quarter steel shipments from U.S. metals service centers rose 11.2% above first-quarter 2009 shipments, to 8.45 million tons. Steel inventories at the end of March totaled 6.49 million tons, 17.2% below those of last year. At current shipping rates, this stockpile is equal to a 2.0-month supply.
In Canada, March steel shipments totaled 516,400 tons—15.9% more than the same month a year ago. First-quarter shipments of 1.41 million tons were 13.6% higher than during the 2009 quarter. Inventories of 1.36 million tons were 16.4% above inventories at the same time last year; at current shipping rates, that total is sufficient for a 2.6-month supply.
Shipments of aluminum products from U.S. service centers were 23.7% above the March 2009 total to 107,900 tons, bringing first-quarter total shipments to 291,500 tons, up 11.5%. Aluminum inventories at the end of March totaled 273,600 tons, 15.1% below last year’s level and enough for a 2.5-month supply at current shipping rates.
Canadian service center aluminum shipments of 12,600 tons were up 13.6% from March 2009. First-quarter shipments, at 33,500 tons, were 1.8% higher than the same period last year. Canadian aluminum inventories of 30,700 tons were 4.0% lower than a year ago, equal to a 2.4-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 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 most ferrous and non-ferrous industrial metals producers in North America. Metals service centers inventory and distribute metals and provide first-stage fabrication services.
