U.S., Canadian Shipments Take Sharp Upturn
Service center shipments of steel and aluminum products rose robustly in November, perhaps signaling the beginning of a sturdier recovery for the metals industry, according to the latest Metals Activity Report from the Metals Service Center Institute, Rolling Meadows, Ill.
Year-over-year steel shipments from U.S.-based service centers rose 28.4 percent during November; Canadian shipments were 19.5 percent above year-ago volume. U.S. aluminum shipments were 38.8 percent higher than in November 2009, while Canadian shipments of the light metal rose 18.3 percent from last year. In each case, the sequential rise in shipments from October volume was pronounced.
November steel shipments from U.S. service centers totaled 2.99 million tons, while shipments for the first 11 months of the year, at 32.8 million tons, were 20.2 percent above those during the same period in 2009. U.S. service center steel inventories totaled 7.28 million tons at the end of November, 24.2 percent larger than year-earlier inventories and equal to a 2.4-month supply.
Canadian service centers shipped 512,800 tons of steel products during November and, for the first 11 months of the year had shipped about 5.29 million tons, 15.1 percent more than during the 2009 month. Canadian steel inventories at the end of November totaled nearly 1.3 million tons, or 30.4 percent more than a year ago, equal to a 2.5-month supply.
Aluminum shipments during November from U.S. metal centers totaled 110,300 tons; shipments for the first 11 months of 2010, at 1.21 million tons, were 25.7 percent above those for the same period in 2009. U.S. aluminum inventories at the end of November totaled 347,800 tons, or 35.9 percent more than stockpiles at the end of November last year. At current shipping rates, that equals a 3.2-month supply.
In Canada, November aluminum shipments totaled 12,600 tons, or 18.3 percent greater volume than during the same month a year ago. Year-to-date total shipments at the end of November totaled 126,200 tons, a rise of 7.1 percent above the total from the same period in 2009.
Canadian aluminum inventories of 31,000 tons at the end of November were 16.5 percent larger than a year ago and equal to a 2.5-month supply.