Growth Rate Accelerates for Steel, Aluminum Shipments
The rate of year-over-year growth of U.S. and Canadian service center steel and aluminum shipments accelerated in June, while inventory-to-sales ratios declined, according to the latest Metals Activity Report from the Metals Service Center Institute, Rolling Meadows, Ill.
Steel product activity
Steel shipments from U.S. service centers in June totaled 3.22 million tons, or 30.8 percent more steel than shipments in June 2009. First-half 2010 steel shipments of nearly 17.6 million tons were 19.1 percent higher than those of the 2009 half. At the end of June, steel product inventories at U.S. metal centers totaled about 7.38 million tons, 23.5 percent greater than a year ago and equal to a 2.3-month supply.
Shipments of steel products from Canadian service centers totaled 513,300 tons, or 28.6 percent more than in June last year. First-half steel shipments rose 16.7 percent to 2.88 million tons. Steel product inventories of 1.34 million tons at the end of June were 27.5 percent above those at the same time last year and equaled a 2.6-month supply.
Aluminum product activity
U.S. service center aluminum shipments jumped 37.7 percent above those of June 2009, to 123,500 tons, bringing 2010 first-half shipments to 615,800 tons, 17.4 percent more than last year. Month-end aluminum inventories of 311,000 tons were 15.3 percent greater than a year ago and equal to a 2.5-month supply.
In Canada, service centers shipped 12,600 tons of aluminum products, a rise of 12.2 percent from the same month last year. First-half aluminum shipments of 68,600 tons were 5.3 percent above those of the 2009 half. Inventories at the end of June totaled 30,600 tons, 3.3 percent below year-ago inventories and equal to a 2.4-month supply.