Steel Stabilizes in the U.S.; Aluminum Strength Persists Across North America
ROLLING MEADOWS, Ill
MSCI Metals Activity for November 2025 shows modest improvement in U.S. service center shipments, while Canadian results remained mixed. U.S. steel shipments increased 0.6% year-over-year on a seasonally adjusted basis, marking a return to growth, and aluminum shipments edged up 0.2%. In Canada, steel shipments declined 4.7% compared to November 2024, while aluminum shipments posted a stronger gain of 7.3%. The data suggest early stabilization in U.S. steel demand, contrasted by continued weakness in Canadian steel.
U.S. Service Center Activity
U.S. service center steel shipments in November 2025 were +0.6% (seasonally adjusted) from November 2024. Shipments of aluminum products were +0.2% (seasonally adjusted) from the same month in 2024.
Canadian Service Center Activity
Canadian service center steel shipments in November 2025 were -4.7% (seasonally adjusted) from November 2024. Shipments of aluminum products were +7.3% (seasonally adjusted) from the same month in 2024.
Contact:
Justin A. Scott, PhD, Vice President, Innovation & Analytics (847) 485-3009 [email protected]