According to the July 20, 2010 Metals Service Center Institute (MSCI) report, the rate of year-over-year growth of US and Canadian metals service center steel shipments accelerated in June, while inventory-to-sales ratios declined.
Steel shipments from US metals service centers in June totaled 3.22 million tons, or 30.8 percent more steel than shipments in June 2009. This also reflects an increase from the 2.92 million tons shipped in May 2010. First-half 2010 steel shipments of nearly 17.6 million tons were 19.1 percent higher than those of the 2009 half. At the end of June, steel product inventories at US metals centers totaled about 7.38 million tons, 23.5 percent greater than a year ago and, at current shipping levels, equal to a 2.3-month supply. This denotes an increase from the 7.0 million ton inventory levels reported in May 2010, which, based on shipping rates for that month, denoted a 2.4 month supply.
Shipments of steel products from Canadian service centers totaled 513,300 tons, or 28.6 percent more than in June last year. This reflects an increase from the 463,000 tons of steel reported to have shipped in May 2010. First-half steel shipments rose 16.7 percent to 2.88 million tons. Steel product inventories of 1.34 million tons at the end of June were 27.5 percent above those at the same time last year and equaled a 2.6-month supply at current shipping rates. This denotes a slight downward trend from the 1.39 million ton product inventories reported in May 2010, which, based on those current shipping rates, were equal to a 3.0-month supply.