The Metals Service Center Institute (MSCI) reported Tuesday that steel shipments from US service centers rose 11.3 percent year-over-year during April, but were still down from the 19 percent year-on-year growth recorded in March. April steel shipments from US metals service centers totaled 3.34 million net tons (3.03 million metric tons), or 11.3 percent more than during April 2010. Steel inventories at the end of April of about 8.18 million net tons (7.42 million metric tons) were 21.6 percent larger than in April 2010, and at current shipping rates, equal to a 2.4-month supply. For the first four months of 2011, steel shipments totaled 13.8 million net tons (12.5 million metric tons)-20.3 percent higher than during the same period in 2010.
April steel shipments from Canadian service centers totaled 514,700 net tons (466,930 metric tons), or 4.5 percent more than during April 2010. Canadian metal center steel inventories at the end of April of about 1.53 million net tons (1.38 million metric tons) were 9.9 percent larger than a year ago and equal to a three-month supply at current shipping rates. Shipments for the year to date were higher in Canada as well, amounting to 2.18 million net tons (1.97 million metric tons), and 14.5 percent higher than shipments during the first four months of last year.