Canadian, U.S. Steel, Aluminum Shipments Rise In May
- According to MSCI, U.S. service center steel shipments increased 4.7 percent from May 2017 to May 2018 while shipments of aluminum products increased by 6.1 percent. Canadian center steel shipments rose 1.5 percent year-over-year while aluminum product shipments increased 3.1 percent.
- According to the American Institute for International Steel (AIIS), steel imports into the United States increased 12.1 percent from April 2017 to April 2018 while exports increased 0.5 percent. Nearly one-quarter of the imports came from Canada or the countries of the European Union. Steel imports were up 1.2 percent for the first four months of the year from the same period the year before. According to American Shipper, “AIIS attributed the April surge in import volumes primarily to the announcement of a 25 percent tariff on imports of steel the previous month.”
- Industrial production in the United States edged down 0.1 percent in May as manufacturing output declined 0.2 percent and even though mining output rose 1.8 percent and utilities production increased 1.1 percent.
- American Metal Market (AMM, subscription required) reported last week that U.S. imports of unwrought aluminum imports, excluding imports from Canada, fell 2.8 percent from April 2017 to April 2018. The reading is now at its lowest point since November 2017. AMM said, “Canada remained the dominant supplier of US unwrought aluminum imports in April, shipping 208,611 tons during the month.”
- Manufacturing sales in Canada fell unexpectedly, declining 1.3 percent. A 10.9 decline in petroleum and coal sales and a 2.3 percent drop in transportation equipment sales drove the overall decline. Primary metals sales improved in April.