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June 16, 2010

May 2010 Metals Volume Continues Recent Trend

June 16, 2010

May 2010 Metals Volume Continues Recent Trend

ROLLING MEADOWS, Illinois, June 16, 2010 – U.S. and Canadian metals service center shipments of steel and aluminum products rose in May at double-digit rates from depressed year-ago levels, the Metals Activity Report from the Metals Service Center Institute shows. Inventories were flat or rose during the month.

Steel Product Activity

Shipments of steel products from U.S. metals service centers totaled 2.92 million tons in May, a rise of 29.4% from May 2009 shipments. Shipments for the year to date of about 14.4 million tons were 16.7% above those during the first five months of last year. Steel inventories at the end of May totaled about 7.0 million tons, 7.8% higher than a year ago and, at current shipping rates, equal to a 2.4-month supply.

In Canada, May shipments of steel products totaled 463,000 tons in May, a 23.3% increase from May 2009. Year-to-date shipments total 2.36 million tons, or 14.4% more than during the same period last year. Month-end steel product inventories totaled 1.39 million tons, or 23.9% more than a year ago. At current shipping rates, inventories were equal to a 3.0-month supply.

Aluminum Product Activity

May shipments of aluminum products from U.S. service centers totaled 97,000 tons, the third straight month of decline but 18.3% above year-ago volume. U.S. aluminum shipments for the first five months of the year total 492,300 tons, or 13.2% more than during the same period in 2009. U.S. aluminum inventories at the end of May of 280,400 tons were 0.7% lower than at the end of May last year and, at current shipping rates, represented a 2.9-month supply.

Canadian metals service center shipped 11,200 tons of aluminum products in May, or 11.6% more than in May 2009. Shipments for the year to date of 56,000 tons are up 3.9% from the same period last year. Inventories at the end of May of 32,800 tons of aluminum products were 6.0% above those at the end of the month last year and, at current shipping rates, equal to a 2.9-month supply.

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 1,200 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.

Contacts:

Chris Marti, vice president, research (847) 485-3009

cmarti@msci.org

Steve Weiner (503) 646-9108

sweiner@msci.org