ldquoIn October 2014 US service center steel shipments increased by 32 from October 2013rdquo according to the Metals Service Center Institute ldquoSteel product inventories increased 155 from October a year ago At the current shipping rate this represents 23 months of supply in inventoryrdquo

“In October 2014, U.S. service center steel shipments increased by 3.2% from October 2013,” according to the Metals Service Center Institute. “Steel product inventories increased 15.5% from October a year ago. At the current shipping rate, this represents 2.3 months of supply in inventory.”

Progress Seen in Metals Service Centers’ October Shipments

Steel, aluminum inventories declined slightly as shipment totals increased U.S. steel shipments, +6.8% Canada steel shipments, +4.6% U.S. aluminum shipments, +10.6% Canada aluminum shipments, +6.2%

Deliveries of steel and aluminum by service centers increased from September to October, and inventory levels declined, presenting a generally positive outlook in the Metals Service Center Institute’s latest Metals Activity Report. It represents the second consecutive month of increase for deliveries across all categories in the report, suggesting positive conditions for industrial activity across North America.

In the U.S., service centers’ deliveries of steel products increased 6.8% in October, rising to 3.9 million tons for the month. The new total is 3.2% higher than the October 2013 result, and brings the 10-month total for U.S. service centers’ steel deliveries to 36.8 million tons, up 4.3% over the January-October 2013 total.

U.S. service centers’ steel inventories declined slightly (-0.3%) during the month to 9.3 million tons, which is 15.5% more than the year-ago inventory total, and represents a 2.4-month supply of steel at current delivery rates, according to MSCI.

The Canadian service centers shipped 517,200 tons of steel products during October, a rise of 4.6% from September’s shipments but a 2.8% decline from the September 2013 delivery total. the new result brings the annual total for steel deliveries to 4.88 million tons, down slightly (-0.3%) from the 10-month total for 2013.

Canadian steel inventories rose to 1.54 million tons, 24% higher than the inventory total at the comparable point of 2013, and equal to 3.0 month’s supply at the current shipment rate.

Aluminum shipments by U.S. service centers increased 10.06% from September to October, up to 147,600 tons for the month, 8.6% higher than during October 2013. The new data brings the annual delivery total to 1.36 million tons of aluminum, which is 8.5% higher than the 2013 10-month total.

U.S. service centers aluminum inventories declined less than 1% to 403,100 tons, which is still 9.3% higher than the October 2013 inventory level. It means the domestic service centers are carrying a 2.7-month supply of aluminum at their current shipping rate.

The Canadian service centers’ October aluminum shipments rose 6.2% from September, up to 15,300 tons. The new total is 8.5% higher than the October 2013 deliveries, and brings the annual delivery total to 137,200 tons, a 4.3% year-to-date increase.

Canadian centers’ aluminum inventories increased slightly to 40,600 tons, 17.4% higher than the year-ago total and equal to 2.7 months’ supply at the current rate of deliveries.

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