Steel, Aluminum Shipment Growth Rate Rebounds in August
The rate of growth of steel and aluminum shipments from North American service centers rebounded in August, according to the Metals Activity Report from the Metals Service Center Institute, Rolling Meadows, Ill. Inventories of both metals changed very little during the month in both the United States and Canada.
August shipments of steel products from U.S. service centers totaled nearly 3.2 million tons, or 25.5 percent more than during the same month last year. Steel shipments for the first seven months of the year of about 23.7 million tons were 19.3 percent higher than during the 2009 period. U.S. steel inventories of 7.4 million tons at the close of August were 32.4 percent larger than stockpiles of August 2009 and, at current shipping rates, represented a 2.3-month supply.
Shipments of steel from Canadian metal centers totaled 489,600 tons in August, or 17.8 percent more than during the same month last year. Shipments for the first seven months of 2010 of nearly 3.8 million tons were 15.5 percent higher than a year ago. Canadian steel inventories totaled about 1.3 million tons at the end of August, 33.8 percent higher than a year ago and equal to a 2.6-month supply at current shipping rates.
Shipments of aluminum products from U.S. service centers totaled 126,600 tons, or 47.6 percent more than in August 2009. For the first seven months of the year, U.S. aluminum shipments of 860,400 tons were 22.9 percent ahead of those from last year. Aluminum stockpiles at service centers totaled 322,300 tons at the end of August, 23.4 percent larger than a year ago and equal to a 2.5-month supply.
In Canada, 11,300 tons of aluminum were shipped in August, up 11.3 percent from a year ago, bringing year-to-date shipments to 89,800 tons, an increase of 5.6 percent from last year. Aluminum inventories totaled 31,700 tons at Canadian metal centers at the end of August, 7.5 percent more than a year ago and equal to a 2.8-month supply.