April shipments of steel and aluminum from U.S. and Canadian metals service centers continued to build on this year’s growing upward momentum, according to the latest Metals Activity Report from the Metals Service Center Institute.
Shipments of steel products from U.S. metals service centers grew in April at nearly the same high level established in March, reaching a total shipment volume of 3.0 million tons of steel for the month — 22.3% more than during April 2009. That brought year-to-date steel shipments to about 11.5 million tons, or 13.9% more than during the same period last year. By the end of April, U.S. service center steel inventories totaled 6.7 million tons, about 5.6% lower than a year ago; at current shipping rates, this stockpile is equal to a 2.2-month supply.
In Canada, the rate of growth dipped from March, with April steel shipments from service centers totaling 492,600 tons — 9.2% higher than in April 2009. April steel shipments brought year-to-date Canadian steel shipments to about 1.9 million tons, a 12.5% increase from the comparable year-ago period. Canadian steel inventories of 1.4 million tons were 17.1% larger than at the same time last year, equal to a 2.8-month supply at current shipping rates.
Shipments of aluminum products from U.S. metals service centers grew at a double-digit rate in April, although somewhat less than in March, reaching a total of 103,800 tons for the month — 13.6% greater volume than in April 2009. For the first four months of the year, U.S. service center shipments of aluminum totaled 395,300 tons, a 12% gain from a year ago. By the end of April, U.S. service center aluminum inventories totaled 280,500 tons, or 6.0% below stockpiles at the end of April 2009. At current shipping rates, this stockpile represents a 2.7-month supply.
In Canada, April aluminum shipments of 11,300 tons were 3.0% above those of the same month last year. April shipments brought the year-to-date aluminum total from Canadian service centers to 44,800 tons, a 2.1% rise above the year-ago period. Service center aluminum inventories of 32,100 tons were 3.2% higher than those at the same time in 2009 and, at current shipping rates, represent a 2.8-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 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.