Steel, Aluminum Shipments from Metals Centers Continue to Decline in the U.S. and Canada
July 17, 2009
Steel, Aluminum Shipments from Metals Centers Continue to Decline in the U.S. and Canada
ROLLING MEADOWS, Illinois, July 17, 2009 – June shipments of steel and aluminum from metals service centers in the United States and Canada continued to decline, but generally at a slower rate than in previous months, the Metals Activity Report from the Metals Service Center Institute shows. Inventories of both metals fell in the United States, while Canadian steel inventories declined and aluminum stockpiles were essentially flat with those of May.
Steel Product Activity
June shipments of steel products from U.S. metals service centers of 2.46 million tons were 41.8% below June 2008 shipments. First-half steel shipments totaled 14.8 million tons, down 43.9% year-over-year. Inventories at the end of the month of about 5.98 million tons were down 44.4% from those of last year and, at current shipping rates, represented a 2.4-month supply.
Steel shipments from Canadian metals service centers totaled 399,200 tons, a decline of 31.7% from June 2008, and brought first-half shipments to 2.46 million tons, down 35% compared with a year ago. Inventories at the end of June totaled about 1.05 million tons, 33% below last year and, at current shipping rates, equal to a 2.6-month supply.
Aluminum Product Activity
U.S. service center aluminum shipments totaled 89,700 tons in June, a reduction of 39.1% from a year ago, while first-half shipments of 524,600 tons of aluminum were down 43.2% year-over-year. Inventories at the end of June totaled 269,800 tons, a reduction of 44.1% from a year ago and, at current shipping rates, equal to a 3.0-month supply.
In Canada, aluminum shipments from metals service centers totaled 11,200 tons, 26.2% below volume for the same month last year. First-half aluminum shipments totaled 65,100 tons, a decline of 26.4%. Month-end inventories totaled 31,700 tons, a decline of 15.7% from a year ago and, at current shipping rates, equal to a 2.8-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
Steve Weiner (503) 646-9108