Steel, Aluminum Shipments Continue Upward
Service center shipments of both steel and aluminum in the United States and Canada continued to increase at robust rates in October, according to the latest Metals Activity Report from the Metals Service Center Institute, Rolling Meadows, Ill. Inventory-to-sales ratios remained stable.
October shipments of steel products from U.S. service centers totaled about 3.03 million tons, or 15.8 percent more than during the same month in 2009. Shipments for the first 10 months of the year of about 29.9 million tons were 19.4 percent higher than during the same period last year. At the end of October, steel inventories at U.S. service centers of 7.42 million tons were 25.1 percent larger than in October 2009, equal to a 2.4-month supply.
In Canada, October steel shipments from service centers totaled 481,600 tons, or 11.6 percent more than a year ago. Shipments for the first 10 months of the year of 4.77 million tons were 14.7 percent above those for the 2009 period. Month-end inventories of 1.33 million tons were 37.2 percent above those at the same time last year, equal to a 2.8-month supply.
October shipments of aluminum products from U.S. service centers totaled 116,100 tons, or 25.6 percent more than October 2009 shipments. For the first 10 months of the year, aluminum shipments of 1.09 million tons were up 24.6 percent from a year ago. Aluminum inventories, which have been rising in absolute terms since November 2009, totaled 337,000 tons at the end of October. That stockpile was 30.6 percent larger than totals of a year ago and equal to a 2.9-month supply, the highest since February.
Canadian shipments of aluminum products totaled 11,700 tons in October, an increase of 6.1 percent from October 2009. Total shipments year-to-date of 113,600 tons were up 6.0 percent. Aluminum inventories at Canadian metal centers of 31,900 tons were 19.9 percent larger than at the end of October 2009 and equal to a 2.7-month supply.