Service center shipments increased from the same period in 2010 at about the same rate as July for both steel and aluminum in Canada and at a higher rate in the U.S., according to the latest Metals Activity Report from the Metals Service Center Institute. Inventory levels increased for both metals in the U.S. and Canada.
The report also shows that steel shipments from U.S. service centers totaled 3,690.5 thousand tons in August 2011, representing an increase of 15.4% from August 2010. Year-to-date steel shipments were 27,672.7 thousand tons, an increase of 17.0% from the same period in 2010.
By the end of August, steel product inventories were 8,459.1 thousand tons, an increase of 13.7% over a year ago and an increase of 0.5% from last month. At the current shipping rate, this represents 2.3 months of supply in inventory.
August shipments of aluminum products by U.S. service centers totaled 135.9 thousand tons, an increase of 7.3% from the same month in 2010. Year-to-date aluminum shipments were 1,017.0 thousand tons, an increase of 18.2% from a year ago.
Inventories of aluminum products were 360.8 thousand tons at the end of August 2011, an increase of 11.9% over last August and an increase of 1.9% from last month. At the current shipping rate, this represents 2.7 months of supply.
Steel shipments from Canadian service centers totaled 541.0 thousand tons in August 2011, representing an increase of 10.5% from August 2010. Year-to-date steel shipments were 4,248.7 thousand tons, an increase of 12.2% from the same period in 2010.
Steel product inventories were 1,626.5 thousand tons at the end of August 2011, an increase of 27.2% from a year ago and an increase of 0.4% from last month. At the current shipping rate, this represents 3.0 months of supply.
August shipments of aluminum products from Canadian service centers totaled 12.7 thousand tons, an increase of 12.2% from August 2010. Year-to-date aluminum shipments were 97.9 thousand tons, an increase of 9.1% from the same period in 2010.
Inventories of aluminum products were 34.3 thousand tons at the end of August 2011, an increase of 8.2% from August a year ago and an increase of 3.8% from last month. At the current shipping rate, this represents 2.7 months of supply.
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.