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US Service Center Steel Shipments Weaken in September

Steel News - Published on Mon, 23 Oct 2017

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North American metals service center shipments of steel and aluminum products declined from August to September, though the year-over-year comparisons were effectively flat, as the Metals Service Center Institute noted in its statement on the results. US centers’ inventories of steel and aluminum increased during September, though Canadian centers stockpiles declined in somewhat comparable rates.

Each month the Metals Service Center Institute issues its Metals Activity Report, which presents shipment and inventory totals for service centers in the US and Canada. Both indexes offer insight to the current state of manufacturing activity, as service center metal products constitute to a substantial volume of the metals consumed by machine shops, fabricators, and other manufacturers.

US service centers shipped 3.04 million tons of steel products during September 2017, 12.2% less than during August but "essentially unchanged from September 2016," as MSCI noted. The daily shipping rate improved by 2,200 tons from the August rate to an average of 152,200 tons/day, and the year-to-date total increased to 29.56 million tons through nine months, 2.8% higher than the January-September 2016 total.

Steel product inventories at US service centers increased by 1.2% from August, and by 2.4% from September 2016. At their current shipping rate, MSCI estimated that US service centers are holding a 2.6-month supply of steel products.

Steel products shipments from Canadian service centers decreased by 7.8% from August to September, totaling 356,600 tons for the most recent month. That represents a 3.8% decline from the September 2016 shipment total. However, the daily shipping rate increased by about 200 tons, to 17,800 tons/day.

Canadian centers nine-month steel shipments total is 3.46 million tons, 2.7% higher than the nine-month total for 2016.

Canadian services centers steel product inventories declined slightly (-1.65%) from August, but at 1.16 million tons are 4.2% higher than the inventory total at the end of September 2016, equivalent to a 3.3-month total by the MSCI estimate.

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Posted By : Nanda Koijam on Mon, 23 Oct 2017
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