MSCI: November Growth Off Slightly from October
Service center shipments of steel and aluminum grew at slightly slower rates in November, vs. the previous month, in both the United States and Canada, while steel inventory levels declined, according to the latest data from the Metals Service Center Institute, Rolling Meadows, Ill.
U.S. service centers shipped 3.3 million tons of steel products in November, an increase of 10.6 percent vs. November 2010. For 2011 year-to-date, service center steel shipments totaled 37.7 million tons, an increase of 15.0 percent from the same period in 2010. Steel product inventories totaled 8.1 million tons at the end of November, an increase of 11.3 percent over November a year ago but a decrease of 3.3 percent from the previous month. This represented 2.5 months of supply on hand, an increase of 0.7 percent from a year ago.
U.S. service centers shipped 120,800 tons of aluminum products in November, an increase of 9.5 percent from the same month in 2010. For 2011 year-to-date, aluminum shipments totaled 1.39 million tons, an increase of 15.5 percent from the same period in 2010. Inventories of aluminum products totaled 359,500 tons at the end of November, an increase of 3.4 percent vs. November a year ago and an increase of 0.4 percent vs. the previous month. This represented 3.0 months of supply on hand, a decrease of 5.6 percent from a year ago.
Canadian service centers shipped 534,700 tons of steel products in November, an increase of 4.3 percent vs. November 2010. For 2011 year-to-date, Canadian steel shipments totaled 5.87 million tons, an increase of 11.0 percent from the same period in 2010. Steel product inventories totaled 1.35 million tons at the end of November, an increase of 3.9 percent from November a year ago but a decrease of 9.4 percent from the previous month. This represented 2.5 months of supply on hand, a decrease of 0.4 percent from a year ago.
Canadian service centers shipped 13,200 tons of aluminum products in November, an increase of 4.7 percent from the same month in 2010. For 2011 year-to-date, Canadian aluminum shipments totaled 136,700 tons, an increase of 8.3 percent from the same period in 2010. Inventories of aluminum products totaled 35,300 tons at the end of November, an increase of 14.0 percent from November a year ago but a decrease of 2.9 percent from the previous month. This represented 2.7 months of supply on hand, an increase of 8.8 percent from a year ago.