Service Centers Report Sharp Declines in Steel, Aluminum Shipments
March, Q1 figures show little sign of inventory build-up
March, Q1 figures show little sign of inventory build-up
A “normally positive seasonal business pattern for steel and aluminum” has been disrupted by economic slowing across North America, according to the Metals Service Center Institute. The trade group’s monthly report on shipments and inventories indicates that in March its U.S. members’ sales of steel and aluminum fell significantly from the March 2007 rate, and more declines were reported by Canadian members.
At the same time, service center inventories countered the seasonal custom and remained even or dropped from February levels, and remain well below the March 2007 inventory levels.
U.S. service centers’ shipments of steel products totaled 4.25 million tons in March, a drop of 11.2% from March 2007. MSCI reports that its members’ first-quarter steel shipments totaled almost 13.1 million tons, -4.8% from Q1 2007 quarter.
As for steel inventories, U.S. service centers finished March with almost 12.1 million tons of steel in stock, -18.6% versus the same point of 2007. The current shipping rates read this total as a 2.8-month supply.
In Canada, service centers shipped 298,500 tons of steel, -12.7% versus March 2007. Their first-quarter shipments totaled 956,300 tons, -3.0% against Q1 2007. Canadian steel inventories are reported at 1.1 million tons, -10.2% against March 2007, and representing a 3.7-month supply.
For aluminum service centers, U.S. March shipments amounted to 90,500 tons, -17.7% from March 2007. For the first quarter of 2008, U.S. centers’ aluminum shipments totaled 283,100 tons, -9.1% from Q1 2007.
With 286,600 tons of aluminum in inventory, U.S. service centers have a 3.2-month supply in stock at current shipping rates.
Canadian service center shipped 10,400 tons of aluminum products in March, -2.7% against the March 2007 shipment total, with first-quarter shipments amounting to 30,600 tons — a slight increase of 0.2% from Q1 2007. Across Canada, service centers have 28,100 tons of aluminum in stock, -4.6% from the inventory level reported in March 2007, and representing a 2.7-month supply of product at current shipping rates.
At the same time, service center inventories countered the seasonal custom and remained even or dropped from February levels, and remain well below the March 2007 inventory levels.
U.S. service centers’ shipments of steel products totaled 4.25 million tons in March, a drop of 11.2% from March 2007. MSCI reports that its members’ first-quarter steel shipments totaled almost 13.1 million tons, -4.8% from Q1 2007 quarter.
As for steel inventories, U.S. service centers finished March with almost 12.1 million tons of steel in stock, -18.6% versus the same point of 2007. The current shipping rates read this total as a 2.8-month supply.
In Canada, service centers shipped 298,500 tons of steel, -12.7% versus March 2007. Their first-quarter shipments totaled 956,300 tons, -3.0% against Q1 2007. Canadian steel inventories are reported at 1.1 million tons, -10.2% against March 2007, and representing a 3.7-month supply.
For aluminum service centers, U.S. March shipments amounted to 90,500 tons, -17.7% from March 2007. For the first quarter of 2008, U.S. centers’ aluminum shipments totaled 283,100 tons, -9.1% from Q1 2007.
With 286,600 tons of aluminum in inventory, U.S. service centers have a 3.2-month supply in stock at current shipping rates.
Canadian service center shipped 10,400 tons of aluminum products in March, -2.7% against the March 2007 shipment total, with first-quarter shipments amounting to 30,600 tons — a slight increase of 0.2% from Q1 2007. Across Canada, service centers have 28,100 tons of aluminum in stock, -4.6% from the inventory level reported in March 2007, and representing a 2.7-month supply of product at current shipping rates.
