Year-over-year growth of steel and aluminum shipments from U.S. and Canadian metals service centers continued at double-digit rates in June, according to the latest Metals Activity Report from the Metals Service Center Institute. Inventory-to-sales ratios declined during the month.
Shipments of steel from U.S. metals service centers in June totaled 3.22 million tons, a 30.8% increase from year-ago (June 2009) shipments. First-half 2010 steel shipments of nearly 17.6 million tons were 19.1% higher than for the same period in 2009. At the end of June, steel inventories at U.S. metals centers totaled about 7.38 million tons, 23.5% higher than a year ago. At current shipping levels, this volume is equal to a 2.3-month supply.
In Canada, shipments of steel products totaled 513,300 tons, a 28.6% increase compared to last June. First-half steel shipments rose 16.7% to 2.88 million tons. Steel inventories of 1.34 million tons at the end of June were 27.5% above those at the same time last year. This volume equals a 2.6-month supply at current shipping rates.
Shipments of aluminum products from U.S. service centers increased 37.7% from June 2009, to 123,500 tons. First-half 2010 shipments totaled 615,800 tons, 17.4% more than last year. Month-end aluminum inventories of 311,000 tons were 15.3% higher than a year ago. At current shipping rates, that volume is equal to a 2.5-month supply.
In Canada, metals service centers shipped 12,600 tons of aluminum products, an increase of 12.2% from last June. First-half aluminum shipments of 68,600 tons are 5.3% above those of the 2009 half. Inventories at the end of June totaled 30,600 tons, a 3.3% decrease from year-ago inventories. This volume equals 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 almost all ferrous and non-ferrous industrial metals producers in North America. Metals service centers inventory and distribute metals and provide first-stage fabrication services.