Steel, Aluminum January Shipments Rise; Inventories Lower
February 21, 2006
Steel, Aluminum January Shipments Rise; Inventories Lower
ROLLING MEADOWS, Illinois, February 21, 2006 – Shipments of steel and aluminum products from U.S. and Canadian metals service centers rose during January compared with year-ago shipments, while inventory positions of both metals declined in terms of months of supply on hand, the MSCI Metals Activity Report shows.
U.S. Service Center Activity
U.S. metals service centers shipped nearly 4.8 million tons of steel products in January, a 4.9% increase from January 2005, marking the sixth consecutive month of year-over-year growth in monthly shipments.
Steel product inventories at the end of January totaled 13.1 million tons, a decrease of 17.7% from January 2005 but a 1.6% increase from December 2005. Expressed in terms of months of inventory on hand, U.S. metals service center steel product inventories fell to 2.7 months of supply, down 21.5% from a year ago and a decrease of 17.8% from last month.
January shipments of aluminum products totaled 102,500 tons, an increase of 7.7% from the same month a year ago and continuing a two-year trend of increases in aluminum product shipments. Aluminum product inventories at the end of January totaled 353,400 tons, essentially flat when compared with January 2005 inventory levels and those of December. However, at the current shipping rate, aluminum product inventories represent a supply of 3.4 months, a decrease of 7.1% from a year ago and 11.4% from last month.
Canadian Service Center Activity
Shipments of steel products from Canadian metals service centers totaled 353,100 tons in January, an increase of 4.6% from January 2005 shipments of 337,400 tons. Steel product inventories were nearly 1.03 million tons at the end of January, a decrease of 24.1% from a year earlier but about 4.2% higher from December 2005. Expressed in terms of months of inventory on hand, steel stocks at the end of January represented a 2.9-month supply, down 27.5% from January 2005 and a decrease of 20.4% from last month.
Canadian service centers shipped 9,500 tons of aluminum products in January, an increase of 5.4% from January 2005. Month-end inventories totaled 30,200 tons, a decrease of 2.7% from year-ago inventories and down 2.4 from December. At the current shipping rate, January aluminum stocks represented a 3.2-month supply, a decrease of 7.7% from last year and down 17.4% from December.
Founded in 1907, the Metals Service Center Institute has more than 400 members operating from about 1,200 locations in the U.S., Canada, Mexico, and elsewhere around the world. Together, MSCI members constitute the largest single group of metals purchasers in North America, amounting each year to more than 65 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, technology and research, (847) 485-3009
Steve Weiner, Readmore Communications, (847) 485-3011
About MSCI
Founded in 1907, the Metals Service Center Institute has more than 400 members operating from about 1,200 locations in the U.S., Canada, Mexico, and elsewhere around the world. Together, MSCI members constitute the largest single group of metals purchasers in North America, amounting each year to more than 75 million tons of steel, aluminum, and other metals, with about 300,000 manufacturers and fabricators as customers. Metals service centers inventory and distribute metals, and provide first-stage fabrication services.