U.S. Steel, Aluminum Shipments and Inventories Rise
11/18/2009 - Shipments of steel and aluminum products from U.S. metals service centers increased in October compared to September levels, and inventories for both metals rose slightly, according to the latest Metals Activity Report from the Metals Service Center Institute.
October steel shipments from U.S. metals service centers totaled nearly 2.62 million tons, a 2.3% increase from September shipments but 28% below year-ago volume, according to the latest Metals Activity Report from the Metals Service Center Institute.
Year-to-date (YTD) steel shipments of nearly 25.0 million tons were down 40.1% from the same period last year, according to the report. Steel inventories at service centers at the end of October totaled 5.93 million tons, up 2.3% from September but 40.9% below a year ago. That volume represents a 2.3-month supply at current shipping rates.
In Canada, October steel shipments of 431,400 tons were 5.3% lower than September shipments and 21.4% below those of October 2008. Steel shipments of 4.16 million tons for the first 10 months of the year were 29.5% lower than those for the same period last year. Month-end inventories totaled 971,700 tons, or 1.5% more than at the end of September, but 28.4% below those of a year ago. At current shipping rates, those inventories equal a 2.3-month supply.
October shipments of aluminum products from U.S. metals service centers totaled 92,500 tons, up 7.0% from September shipments but 36.1% below year-ago volume. YTD aluminum shipments of 879,000 tons were 41.1% lower than volume during the same period last year. U.S. aluminum inventories stood at 257,900 tons at the end of October, a 1.2% increase vs. September month-end inventories but 40.5% below those of last year. At current shipping rates, aluminum inventories represent a 2.8-month supply.
Canadian aluminum shipments in October totaled 11,000 tons, down 1% from September and 23.7% from October 2008. YTD shipments of 107,200 tons were 25.2% below those of the same period last year. Aluminum inventories in Canadian metals service centers totaled 26,600 tons, a 7.4% decline from September and 26.8% below year-earlier inventories. Aluminum stocks were sufficient to meet demand for 2.4 months at current shipping rates, according to the report.
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.
