What is in this article?:
- Metal Shipments Steady in May, but Lack Momentum
- Shipments Up, Inventories Flat
- Steel shipments up 0.7% in U.S., down -1.9% in Canada
- Aluminum deliveries rose 3.8% in U.S., up 2.8% in Canada
U.S. service centers reported slightly better levels of activity for steel and aluminum during May than their counterparts in Canada. However, inventory levels for both product categories generally declined in both markets.
North America’s metals service centers are falling behind their 2012 pace, according to the Metals Service Center Institute. The results of the May Monthly Activities Report showed only modest changes in steel and aluminum shipment totals from the April results,
The Metals Service Center Institute’s Monthly Activity Report is based on data supplied by participating metals service centers for both the U.S. and Canada, though results for steel deliveries appeared slightly stronger than those for aluminum. Likewise, the report shows no indictors of momentum in the centers’ daily shipping rates and inventory levels.
Shipments of steel products from U.S. service centers totaled 3,657,600 tons in May, rising just 0.7% from April, but trailing the May 2012 result by 4.8%. The daily shipping rate rose to 166,300 tons/day, from 166,000 tons/day in May, but falling from 174,600 tons/day in May 2012.
The five-month total for U.S. service centers’ steel shipments is 17,726,300 million, -4.6% less than the January-May 2012 total.
U.S. service centers reported 8,026,400 tons of steel product in stock as April ended, a -3.4% decline from April, but an -11.6% change in inventory levels since May 2012. At their current rate of shipments, U.S. centers have a 2.2-month supply of steel available.
The results for steel slightly worse at Canada’s service centers. They shipped 515,000 tons of steel in March, -1.9% less than during April, and -10.1% less than during May 2012. The Canadian centers’ daily steel shipment rate fell to 23,400 tons/day, from 23,900 tons/day in April and 26,000 tons/day in May 2012.
The five-month total for Canadian centers’ steel shipments is 2,498,100 tons, off by -9.9% from the pace set during the same period of 2012.
Steel product inventories totaled 1,522,200 tons as May ended, declining -7.5% from May 2012. MSCI estimated this represents 3.0-month supply of material at the current rate of deliveries.