Steel, Aluminum Shipments Rebound in May
Shipments of steel and aluminum products by U.S. and Canadian service centers returned to more robust growth rates during May, according to the Metals Activity Report from the Metals Service Center Institute, Rolling Meadows, Ill. The higher rates of growth generally reversed the weaker shipment numbers reported in April.
May steel shipments by U.S. service centers totaled 3.50 million tons, or 20.1 percent more than shipments during May 2010. Shipments for the first five months of the year of 17.28 million tons were up 20.3 percent from a year ago. U.S. steel inventories at the end of May totaled nearly 8.3 million tons, up 19 percent from stockpiles of a year ago and equal to a 2.4-month supply.
In Canada, metals centers shipped 528,300 tons of steel during May, a 14.1 percent increase. Shipments during the first five months of the year of 2.70 million tons were up 14.4 percent from a year ago. Canadian steel inventories of 1.54 million tons were 10.4 percent larger than at the end of May 2010 and equal to a 2.9-month supply.
May aluminum shipments from U.S. metals centers totaled 127,400 tons, or 31.4 percent more aluminum than in May 2010. For the year to date, shipments of aluminum totaled 629,300 tons, or 27.8 percent more volume than last year. Month-end aluminum inventories of 362,900 tons were 29.4 percent greater than at the end of May 2010 and equal to a 2.8-month supply.
Canadian aluminum shipments during May totaled 12,500 tons, or 10.9 percent more than service center volume during the same month last year. Shipments for the year of 61,100 tons were up 9.1 percent from a year ago. Inventories at the end of May of 30,600 tons of aluminum were 6.9 percent below year-ago stockpiles and equal to a 2.5-month supply.