The Rolling Meadows, Illinois-based Metals Service Center Institute (MSCI) announced Tuesday that March steel shipments from US metals service centers totaled 3.82 million net tons (nt), which represents a 19 percent increase compared to March 2010 shipments. At the end of March, steel product inventories were nearly 8.02 million nt, 23.5 percent larger than year-ago levels and, at current shipping rage, equal to a 2.1-month supply.
Steel shipments in March from Canadian metal service centers saw a similar year-over-year incline, rising 19.1 percent from March 2010. March shipments totaled 615,000 nt. Canadian steel product inventories at the end of March of 1.53 million nt were 13.1 percent larger than the same period a year ago, and at current shipping rate equal to a 2.5-month supply.