The Metals Service Center Institute released monthly shipment data for steel and aluminum this week, showing increases in both categories for the month of July.
Aluminum shipments in Canada showed the strongest growth, rising 16% compared to the same period in 2011. Year-to-date, aluminum shipments were up 12% compared to 2011. Canadian service centers shipped 471,000 tons of steel products in July, up just 0.5% compared to July 2011. Year-to-date, steel shipments in Canada rose 2% to 3.7 million tons.
In the United States, service centers shipped 3.3 million tons of steel products in July, up 5% over July 2011. Year-to-date steel shipments rose 6% to 25 million tons. Aluminum shipments in the United States rose nearly 4% in July and were up 4% year-to-date as well.
MSCI also reported inventory data for both products in both countries. In the United States, steel product inventories rose 6% to 8.9 million tons at the end of July, but fell 1% compared to June. At the current shipping rate, this represents 2.7 months’ supply in inventory, an increase of 0.8% from a year ago.
Inventories of aluminum products were 388,000 tons at the end of July, an increase of 9% over July a year ago and an increase of 3% from last month. At the current shipping rate, this represents 3.2 months’ supply in inventory, an increase of nearly 6% from a year ago.
In Canada, steel product inventories were 1.6 million tons at the end of July, an increase of 0.9% from July a year ago and an increase of 2% from last month. At the current shipping rate, this represents 3.5 months’ supply in inventory, an increase of 0.4% from a year ago.
Inventories of aluminum products were 39,000 tons at the end of July, up 18% compared to July a year ago and up 6% from last month. At the current shipping rate, this represents 3.1 months’ supply in inventory, an increase of 2% from a year ago, the report said.
