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U.S. Canadian Steel, Aluminum Shipments Grow in October

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Shipments of U.S. and Canadian steel and aluminum products grew significantly in October, according to the latest Metals Activity Report from Rolling Meadows, Ill.-based Metals Service Center Institute.

U.S. service centers shipped 3.4 million tons of steel products in October, up 10.7 percent from the same month last year and 11.8 percent from September. Year-to-date shipments of 32.9 million tons were 3.6 percent higher than the total through the first 10 months of 2016.

Service center steel inventories totaled 7.7 million tons at the end of the month, a year-over-year increase of 5.6 percent, but down 1.4 percent from September. At October shipping rates, that represents 2.3 months of supply, down from 2.4 months in October 2016.

U.S. service centers shipped 144,300 tons of aluminum products during the month, a 16.8 percent increase from October 2016 and 10 percent higher than September. Through October, full-year shipments of 1.4 million tons were up 7.9 percent from last year.

U.S. service center inventories of aluminum products totaled 406,900 tons in October, an increase of 5.4 percent year over year and 1.2 percent from the previous month. At October shipping rates, that represents 2.8 months of supply, down from 3.1 months in the year-ago period.

Canadian service centers shipped 391,700 tons of steel products during the month, up 9.8 percent from October 2016 and 9.8 percent from September. Year-to-date shipments increased 3.4 percent year over year to 3.9 million tons.

Service center steel inventories in Canada totaled 1.2 million tons at the end of the month, an 8.3 percent increase from last year and 0.6 percent higher than the month prior. At October shipping rates, that represents 3.0 months of supply, which is equal to last year.

Canadian service centers shipped 10,600 tons of aluminum products in October, up 7 percent from a year ago and 2.9 percent from September. Year-to-date aluminum shipments are down 0.2 percent year over year to 103,700 tons.

Canadian inventories of aluminum products totaled 30,700 tons at the end of the month, down 2 percent from October 2016, but 0.7 percent higher than September inventories. At October shipping rates, that represented 2.9 months of supply, down from 3.2 months last October.