Growth in May shipments of aluminum and steel accelerated in both the U.S. and Canada, an improvement from the smaller growth levels shown in April. Inventory positions improved slightly in both countries, according to the latest report from the Metals Service Center Institute (MSCI).
U.S. service centers shipped 3842.2 thousand tons of steel products in the month of May 2012. This represents an increase of 9.7% from May 2011. For 2012 year-to-date, steel shipments were 18,578.0 thousand tons, an increase of 7.5% from the same period in 2011. Steel product inventories were 9,080.3 thousand tons at the end of May 2012, an increase of 9.5% over May a year ago and a decrease of 0.7% from last month. At the current shipping rate, this represents 2.4 months of supply in inventory.
136.1 thousand tons of aluminum products were shipped by U.S. service centers in May, an increase of 6.8% from the same month in 2011. For 2012 year-to-date, aluminum shipments were 664.2 thousand tons, an increase of 5.6% from the same period in 2011. Inventories of Aluminum products were 385.7 thousand tons at the end of May 2012, an increase of 6.3% over May a year ago and an increase of 2.3% from last month. At the current shipping rate, this represents 2.8 months of supply in inventory.
Canadian service centers shipped 573.1 thousand tons of steel products in the month of May, 2012. This represents an increase of 8.5% from May 2011. Year-to-date, steel shipments were 2772.1 thousand tons, an increase of 2.5% from the same period in 2011. Steel product inventories were 1645.3 thousand tons at the end of May 2012, an increase of 7.1% from May a year ago and a decrease of 3.0% from last month. At the current shipping rate, this represents 2.9 months of supply in inventory, a decrease of 1.2% from a year ago.
14.6 thousand tons of aluminum products were shipped by Canadian service centers in May, an increase of 17.2% from the same month in 2011. Year-to-date, aluminum shipments were 69.8 thousand tons, an increase of 14.2% from the same period in 2011. Inventories of Aluminum products were 36.2 thousand tons at the end of May 2012, an increase of 18.4% from May a year ago and an increase of 2.6% from last month. At the current shipping rate, this represents 2.5 months of supply in inventory, an increase of 1.1% from a year ago.
Founded in 1909, the Metals Service Center Institute, based in Rolling Meadows, Ill., has nearly 400 members operating from more than 1,500 locations in the U.S, Canada, Mexico and throughout 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. Service centers inventory, process and distribute metals to manufacturing intermediaries and original equipment manufacturers.
www.msci.org