The Metals Service Center Institute (MSCI) reported Thursday that US steel service centers shipped 3.3 million tons in the July, representing a 5.4 percent increase from July 2011. Through July 2012 year-to-date, steel shipments were 25.4 million tons, a 5.8 percent increase from the same period in 2011. Steel product inventories are 8.9 million tons at the end of July 2012, an increase of 6.2 percent over inventories in July 2011, and a decrease of 1 percent from June. At the current shipping rate, this represents 2.7 months' supply in inventory, an increase of 0.8 percent from a year ago.
Canadian Service Centers shipped 471,000 tons of steel products in the month of July, 2012. This represents an increase of 0.5 percent from July, 2011. For 2012 year-to-date, steel shipments were 3.7 million tons, an increase of 1.8 percent from the same period in 2011. Steel product inventories were 1.6 million tons at the end of July, 2012, an increase of 0.9 percent from July a year ago and an increase of 2.0 percent from the previous month. At the current shipping rate, this represents 3.5 months' supply in inventory, an increase of 0.4 percent from a year ago.