US metals service centers shipped 3.0 million tons of steel in April, or 22.3 percent more than during April 2009. However, this indicates a month-on-month decrease in shipments, as shipments from US metals service centers in March totaled 3.21 million tons. This brings year-to-date shipments to about 11.5 million tons, or 13.9 percent more than during the same period last year. US service center steel inventories at the end of April totaled 6.7 million tons, about 5.6 percent lower than a year ago and, at current shipping rates, equal to a 2.2-month supply. Inventories in March, though, were at 6.49 million tons, and were reported to equal a 2.0-month supply at March shipping rates.
April steel shipments from Canadian service centers of 492,600 tons were 9.2 percent higher than in April 2009 and brought year-to-date shipments to about 1.9 million tons, a 12.5 percent rise from last year's period. However, this indicates a month-on-month decrease in shipments, as shipments from Canadian metals service centers in March totaled 516,400 tons. Canadian steel inventories of 1.4 million tons were 17.1 percent larger than at the same time last year and equal to a 2.8-month supply at current shipping rates. Inventories in March, though, were at 1.36 million tons, and were reported to equal a 2.6 month supply at March shipping rates.
The Metals Activity Report (MAR), based on data from metals service centers in the United States and Canada, is produced by the Metals Service Center Institute and a third-party econometrics and strategy firm, McCoy, Scott & Co.