Steel inventories rose to a 23month level at US service centers and 29months at Canadian centers

Steel inventories rose to a 2.3-month level at U.S. service centers, and 2.9-months at Canadian centers.

Service Centers' Steel Shipments Fall Again, Aluminum Stronger

June activity for deliveries, inventory show different metals moving in different directions MSCI see ‘healthy’ improvement U.S. steel inventories growing Canadian centers selling from stock

Service centers’ deliveries of steel declined across North America from May to June, while inventory levels increased. During the same period, service centers’ aluminum shipments increased, and inventory levels fell. Those results are contained in the Metals Service Center Institute’s monthly Metals Activity Report, a compilation of shipment and inventory data for service centers in the U.S. and Canada.

The MSCI noted that shipment levels for both steel and aluminum increased “at healthy rates” versus the June 2013 results.  

U.S. service centers shipped 3.69 million tons of steel products during June 2014, 1.7% less than during May and the third consecutive monthly decline for that sector. The daily shipping rate also fell, from 178.6 tons/day in May to 175.6 tons/day in June.

The latest month’s results were, however, a 10.2% increase over June 2013.  

For the first six months of 2014, U.S. service centers have shipped 21.95 million tons of steel products, a 4.2% improvement over the January-June 2013 periods. year-to-date steel shipments increased by 4.2% from the same period in 2013.

U.S. service centers’ steel product inventories increased 1.4% from the May level, and with 8.53 million tons in stock the operations have a 2.3-months supply at current shipment rates.  

Canadian service center’s shipments of steel products were 481,000 tons during June, falling 5.6% from May, but rising 6.0% from June 2013.  The daily shipping rate fell from 24.3 tons/day to 22.9 tons/day.

The year-to-date total for steel shipments from Canada’s centers is 2.93 million tons, a 0.7% decline from the six-month total for last year.

Canadian service centers increased their steel inventory levels 0.45%, and with 1.39 million tons of steel now available those centers have a projected 2.9-month supply at the current shipment rate.

As for aluminum products, U.S. service centers shipped 138,400 tons during June, a 1.45% increase over May and a 13.6% improvement over June 2013 shipments. Now shipping at a rate of 6.6 tons/day, the year-to-date total for service center aluminum shipments is now 868,400 tons, a 9.4% improvement over the comparable six-month total for 2013.

U.S. service centers’ aluminum inventories declined slightly, -0.6%, from May totals, and so at 385,200 tons the centers have a 2.8-month supply available at their current rate.

Lastly, Canadian service centers’ June shipment of aluminum products totaled 13,900 tons, a decline of 1.4% from May but an increase of 7.6% over June 2013. With a shipping rate of 70 tons/day, they pushed the six-month shipment total to 80,700 tons, a 1.1% increase versus the January-to-June 2013 shipment total.

Canadian service center aluminum inventories decreased 2.9% from May’s total, and now at 37,500 tons the centers have a 2.7-month supply available.

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