On Friday, the Metals Service Center Institute (MSCI) reported that US service centers shipped 3.9 million tons of steel products in the month of May, 2012, representing an increase of 9.7 percent from May 2011. For 2012 year-to-date, steel shipments were 18.6 million tons and 7.5 percent higher than in the same period in 2011. Steel product inventories were 9.08 million tons at the end of May, 2012, an increase of 9.5 percent over May a year ago and a decrease of 0.7 percent from last month. At the current shipping rate, this represents 2.4 months of supply in inventory.
Canadian Service Centers shipped 573,100 tons of steel products in the month of May 2012. This represents an increase of 8.5 percent from May 2011. Year-to-date, steel shipments were 2.7 million tons, an increase of 2.5 percent from the same period in 2011. Steel product inventories were 1.6 million tons at the end of May 2012, an increase of 7.1 percent from May a year ago and a decrease of 3 percent from last month. At the current shipping rate, this represents 2.9 months of supply in inventory, a decrease of 1.2 percent from a year ago.