Steel, Aluminum Shipment Growth Rate Accelerates
July 20, 2010
Steel, Aluminum Shipment Growth Rate Accelerates
ROLLING MEADOWS, Illinois, July 20, 2010 – The rate of year-over-year growth of U.S. and Canadian metals service center steel and aluminum shipments accelerated in June, while inventory-to-sales ratios declined.
Steel Product Activity
Steel shipments from U.S. metals service centers in June totaled 3.22 million tons, or 30.8% more steel than shipments in June 2009. First-half 2010 steel shipments of nearly 17.6 million tons were 19.1% higher than those of the 2009 half. At the end of June, steel product inventories at U.S. metals centers totaled about 7.38 million tons, 23.5% greater than a year ago and, at current shipping levels, equal to a 2.3-month supply.
Shipments of steel products from Canadian service centers totaled 513,300 tons, or 28.6% more than in June last year. First-half steel shipments rose 16.7% to 2.88 million tons. Steel product inventories of 1.34 million tons at the end of June were 27.5% above those at the same time last year and equaled a 2.6-month supply at current shipping rates.
Aluminum Product Activity
U.S. service center aluminum shipments jumped 37.7% above those of June 2009, to 123,500 tons, bringing 2010 first-half shipments to 615,800 tons, 17.4% more than last year. Month-end aluminum inventories of 311,000 tons were 15.3% greater than a year ago and, at current shipping rates, equal to a 2.5-month supply.
In Canada, metals service centers shipped 12,600 tons of aluminum products, a rise of 12.2% from the same month last year. First-half aluminum shipments of 68,600 tons are 5.3% above those of the 2009 half. Inventories at the end of June totaled 30,600 tons, 3.3% below year-ago inventories and equal to a 2.4-month supply at current shipping rates.
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
Steve Weiner (503) 646-9108