MSCI: Steel Shipment Growth Rate Slows
The rate of growth of steel shipments from service centers in the United States and Canada sagged during April, according to the latest Metals Activity Report from the Metals Service Center Institute, Rolling Meadows, Ill. Steel shipments from U.S. service centers rose 11.3 percent during the month, down from 19 percent year-over-year growth recorded in March. Shipments from Canadian metal centers rose 4.5 percent above those of April 2010, down from the 19.1 percent year-over-year increase recorded in March.
April steel shipments from U.S. service centers totaled 3.34 million tons, or 11.3 percent more steel than during the same month last year. Shipments for the first four months of the fiscal year of nearly 13.8 million tons were 20.3 percent higher than during the same period in 2010. Steel inventories at the end of April of about 8.18 million tons were 21.6 percent larger than at the same time last year and equal to a 2.4-month supply.
In Canada, April steel shipments totaled 514,700 tons, or 4.5 percent more than during April 2010. Shipments for the year to date of about 2.18 million tons were 14.5 percent higher than shipments during the first four months of last year. Canadian metal center steel inventories at the end of April of about 1.53 million tons were 9.9 percent larger than a year ago and equal to a 3.0-month supply.
April aluminum shipments from U.S. service centers totaled 125,900 tons, a 21.2 percent increase from a year ago. Shipments for the first four months of the year of 501,800 tons exceeded last year’s total for the period in 2010 by 26.9 percent. Aluminum inventories at the end of April of 362,200 tons were 29.1 percent above those of last year and equal to a 2.9-month supply.
Canadian metal centers shipped 12,000 tons of aluminum during April, a 6.5 percent increase from April 2010. Shipments for the first four months of the year of 48,700 tons were 8.7 percent larger than during the same period last year. Canadian aluminum inventories at the end of April of 30,100 tons were 6.1 percent lower than inventories a year ago and equal to a 2.5-month supply.