Steel Shipments Weaken Further as Canadian Aluminum Surges

ROLLING MEADOWS, Ill

MSCI Metals Activity for August 2025 reflects continued weakness in steel shipments across North America, while aluminum performance diverged sharply between the U.S. and Canada. U.S. service center steel shipments declined 2.8% year-over-year and aluminum dropped a significant 10.5%, both seasonally adjusted. Meanwhile, Canadian service centers posted a smaller 2.2% decline in steel shipments, but aluminum shipments surged by 19.0%. The mixed results suggest persistent softness in steel demand, contrasted by a potential rebound in Canadian aluminum activity.

U.S. Service Center Activity

U.S. service center steel shipments in August 2025 were -2.8% (seasonally adjusted) from August 2024. Shipments of aluminum products were -10.5% (seasonally adjusted) from the same month in 2024.

Canadian Service Center Activity

Canadian service center steel shipments in August 2025 were -2.2% (seasonally adjusted) from August 2024. Shipments of aluminum products were 19.0% (seasonally adjusted) from the same month in 2024.

Contact:

Justin A. Scott, PhD, Vice President, Innovation & Analytics (847) 485-3009 [email protected]