North American Steel, Aluminum Shipments Drop Again
Service centers show “no discernible direction in either direction”
Service centers show “no discernible direction in either direction”
The Metal Service Center Institute’s monthly survey of members’ business activity for May indicates that North American steel and aluminum shipments declined last month over the May 2007 level. The comparable reading in April 2008 had shown an increase over the 2007 reading. The indication, according MSCI, is that service centers are operating with caution, “with no discernible momentum building in either direction.”
MSCI’s Monthly Activity Report is based on shipping and inventory data collected from North American metals service centers. In May, service centers’ inventories of steel and aluminum remained below their 2007 levels, though steel inventories at U.S. centers rose a bit over the April inventory levels.
May steel shipments from U.S. centers fell 7.2% from May 2007 levels, to 4.36 million tons. For the year to date, U.S. steel shipments now total 22.06 million tons, 3.7% below the Jan.-May 2007 shipments.
U.S. centers closed May with steel inventories totaling 12.54 million tons, 10.8% below the May 2007 inventory total. At the current shipping rate, the centers have a 2.9-month supply of steel.
At Canada’s service centers, May steel shipments dropped 7.5% to 313,500 tons. For 2008, the Canadian centers’ shipments total almost 1.6 million tons, 2.1% below the total for Jan.-May 2007. Steel inventories at the Canadian centers totaled 1.08 million tons at the end of May, down 14.2% from May 2007, and equaling a 3.4-month supply at current shipping rates.
In the aluminum sector, U.S. service centers had May shipments totaling 95,700 tons, down 2.4% from May 2007. For the Jan.-to-May period, U.S. centers’ aluminum shipments total 474,200 tons, a 5.8% for the year to date versus the same period in 2007. U.S. service centers’ aluminum inventories totaled 281,500 tons at the close of May, down 18.5% from May 2007 aluminum inventories, indicating a 2.9-month supply at current shipping rates.
Canadian service centers shipped 10,200 tons of aluminum during May, a 4.3% decline over May 2007. For 2008 to date, Canada’s centers have shipped 51,400 tons of aluminum, a 1.0% increase over Jan.-May 2007. This represents an available supply of 26.8 million tons, down 5.5% from May 2007, which is equal to a 2.6-month supply at the current shipping rates.
MSCI’s Monthly Activity Report is based on shipping and inventory data collected from North American metals service centers. In May, service centers’ inventories of steel and aluminum remained below their 2007 levels, though steel inventories at U.S. centers rose a bit over the April inventory levels.
May steel shipments from U.S. centers fell 7.2% from May 2007 levels, to 4.36 million tons. For the year to date, U.S. steel shipments now total 22.06 million tons, 3.7% below the Jan.-May 2007 shipments.
U.S. centers closed May with steel inventories totaling 12.54 million tons, 10.8% below the May 2007 inventory total. At the current shipping rate, the centers have a 2.9-month supply of steel.
At Canada’s service centers, May steel shipments dropped 7.5% to 313,500 tons. For 2008, the Canadian centers’ shipments total almost 1.6 million tons, 2.1% below the total for Jan.-May 2007. Steel inventories at the Canadian centers totaled 1.08 million tons at the end of May, down 14.2% from May 2007, and equaling a 3.4-month supply at current shipping rates.
In the aluminum sector, U.S. service centers had May shipments totaling 95,700 tons, down 2.4% from May 2007. For the Jan.-to-May period, U.S. centers’ aluminum shipments total 474,200 tons, a 5.8% for the year to date versus the same period in 2007. U.S. service centers’ aluminum inventories totaled 281,500 tons at the close of May, down 18.5% from May 2007 aluminum inventories, indicating a 2.9-month supply at current shipping rates.
Canadian service centers shipped 10,200 tons of aluminum during May, a 4.3% decline over May 2007. For 2008 to date, Canada’s centers have shipped 51,400 tons of aluminum, a 1.0% increase over Jan.-May 2007. This represents an available supply of 26.8 million tons, down 5.5% from May 2007, which is equal to a 2.6-month supply at the current shipping rates.
