MSCI: U.S., Canadian Shipments Steady in March
Shipments of steel and aluminum products from service centers in the United States and Canada showed steady growth from the previous year in March, according to the Metals Activity Report from the Metals Service Center Institute, Rolling Meadows, Ill.
March steel shipments from U.S. service centers totaled 3.82 million tons, or 19.0 percent more than shipments in March 2010. Shipments for the first quarter of the year totaling 10.43 million tons were 23.5 percent ahead of the 2010 quarter. Steel product inventories at the end of March were nearly 8.02 million tons, 23.5 percent larger than a year ago and equal to a 2.1-month supply.
Canadian service center steel shipments in March totaled 615,000 tons, or 19.1 percent more than March shipments last year. First-quarter total shipments of 1.66 million tons were up 18.1 percent from the same period a year ago. Canadian steel product inventories at the end of March totaling 1.53 million tons were 13.1 percent larger than at the same time in 2010 and equal to a 2.5-month supply.
March shipments of aluminum products from U.S. service centers totaled 141,300 tons, or 30.9 percent more than shipments in March 2010. First-quarter shipments totaled 376,000 tons, a 29 percent rise from the year-ago quarter. Month-end inventories of aluminum totaled 356,000 tons, or 30.1 percent more than at the same time last year and equal to a 2.5-month supply.
Shipments of aluminum from Canadian metal centers in March totaled 13,700 tons, or 9.1 percent more than during March 2010. First-quarter Canadian shipments totaled 36,700 tons of aluminum, or 9.4 percent more than a year ago. Aluminum inventories at the end of March totaling 29,400 tons were 4.2 percent below amounts at the same time last year and equal to a 2.1-month supply.