Service Center Shipments Show Double-Digit Increase in October

October service center shipments of steel and aluminum returned to double-digit rates of increase in the United States, according to the latest data from the Metals Service Center Institute, Rolling Meadows, Ill. Canadian shipments grew at a slightly slower rate.

U.S. service centers shipped 3.4 million tons of steel products in October. This represents an increase of 11.5 percent from October 2010. For 2011 year to date, steel shipments totaled 34.5 million tons, an increase of 15.4 percent from the same period in 2010.

Steel product inventories totaled 8.4 million tons at the end of October, an increase of 12.9 percent over October 2010, but a decrease of 1.5 percent from the previous month. At October shipping rates, this represented 2.5 months supply in inventory, an increase of 1.3 percent from a year ago.

Canadian service centers shipped 529,400 tons of steel products in October. This represents an increase of 9.9 percent from October 2010. For year-to-date 2011, steel shipments totaled 5.3 million tons, an increase of 11.7 percent from the same period in 2010. Steel product inventories totaled 1.5 million tons in October, an increase of 11.4 percent from October a year ago, but a decrease of 5.0 percent from the previous month. At October shipping rates, this represented 2.8 months supply in inventory, an increase of 1.4 percent from 2010.

U.S. service centers shipped 128,000 tons of aluminum products in October, up 10.3 percent from the same month in 2010. For the year to date, aluminum shipments totaled 1.3 million tons, an increase of 16.1 percent from the first 10 months of 2010. Inventories of aluminum products totaled 358,200 tons at the end of October, up 6.3 percent from 2010 and 1.3 percent higher than September. At October shipping rates, this represented 2.8 months supply in inventory, a decrease of 3.6 percent from a year ago.

Canadian service centers shipped 12,300 tons of aluminum products in October, up 5.7 percent from the same month last year. For the year to date, aluminum shipments totaled 123,600 tons, an increase of 8.7 percent from 2010. Inventories of aluminum products totaled 36,400 tons in October, an increase of 13.9 percent from the previous year and 4.2 percent from the prior month. At October shipping rates, this represented 2.9 months of supply, up 7.8 percent from the previous year.

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Thursday, August 25, 2016