According to the Metals Activity Report from the Metals Service Center Institute (MSCI), March shipments of steel products from metals service centers in the United States and Canada rose at double-digit rates from year-ago volumes. Inventories of steel in both nations rose slightly.
Shipments of steel products from US metals service centers in March totaled 3.21 million tons, a 24.0 percent increase from a year ago. First-quarter steel shipments from US metals service centers rose 11.2 percent above first-quarter 2009 shipments, to 8.45 million tons. Steel inventories at the end of March of 6.49 million tons were 17.2 percent below those of last year and, at current shipping rates, were equal to an unusually low 2.0-month supply.
In Canada, March steel shipments totaled 516,400 tons, or 15.9 percent more than the same month a year ago. First-quarter shipments of 1.41 million tons were 13.6 percent higher than during the 2009 quarter. Inventories of 1.36 million tons were 16.4 percent above inventories at the same time last year and, at current shipping rates, equal to a 2.6-month supply.