Aluminum Opens 2026 Strong While Steel Remains Under Pressure
ROLLING MEADOWS, Ill
MSCI Metals Activity for January 2026 reflects continued weakness in steel shipments across North American service centers, while aluminum maintained positive momentum to start the year. U.S. steel shipments declined 4.4% year-over-year on a seasonally adjusted basis, while aluminum shipments increased 1.7%. Canadian steel shipments also fell, down 4.0% compared to January 2025, but aluminum posted a stronger gain of 6.5%. The results highlight ongoing softness in steel demand alongside continued relative strength in aluminum markets.
U.S. Service Center Activity
U.S. service center steel shipments in January 2026 were -4.4% (seasonally adjusted) from January 2025. Shipments of aluminum products were +1.7% (seasonally adjusted) from the same month in 2025.
Canadian Service Center Activity
Canadian service center steel shipments in January 2026 were -4.0% (seasonally adjusted) from January 2025. Shipments of aluminum products were +6.5% (seasonally adjusted) from the same month in 2025.
Contact:
Tyler Carlson Operations & Membership Manager (847) 485-3026 [email protected]