According to the June 16, 2010 Metals Service Center Institute (MSCI) report, US and Canadian metals service center shipments of steel products rose in May at double-digit rates from depressed year-ago levels.
Shipments of steel products from US metals service centers totaled 2.92 million tons in May, a rise of 29.4 percent from May 2009 shipments. This is, however, slightly down from the 3.0 million tons of steel reported to have shipped during April 2010. Shipments for the year to date of about 14.4 million tons were 16.7 percent above those during the first five months of last year. US service center steel inventories at the end of May totaled about 7.0 million tons, 7.8 percent higher than a year ago and, at current shipping rates, equal to a 2.4-month supply. This denotes a slight increase from the 6.7 million ton inventory levels reported in April 2010, which, based on shipping rates for that month, equaled a 2.2-month supply.
In Canada, May shipments of steel products totaled 463,000 tons in May, a 23.3 percent increase from May 2009. This is, however, a decrease from the 492.600 tons of steel reported to have shipped in April 2010. Year-to-date shipments total 2.36 million tons, or 14.4 percent more than during the same period last year. Month-end Canadian service center steel product inventories totaled 1.39 million tons, or 23.9 percent more than a year ago. At current shipping rates, inventories were equal to a 3.0-month supply. This denotes a slight increase from the 1.4 million ton inventory levels reports in April 2010, which, based on shipping rates for that month, equaled a 2.8 month supply.