The Metals Service Center Institute (MSCI) reported Wednesday that US service centers shipped 3.65 million tons steel products in the month of August. This represents a decrease of 1 percent from August 2011. Year-to-date steel shipments were 29 million tons, an increase of 4.9 percent from the same period in 2011.
Steel product inventories were 8.9 million tons at the end of August, 2012, an increase of 5.8 percent over August a year ago and an increase of 0.2 percent from last month. At the current shipping rate, this represents 2.5 month's supply-in-inventory, an increase of 6.9 percent from a year ago.
Canadian service centers shipped 513,400 tons of steel products in the month of August 2012. This represents a decrease of 5.1 percent from the previous year. Year-to-date steel shipments were 4.3 million tons, reflecting an increase of 0.9 percent from the same period in 2011.
Steel product inventories were 1.6 million tons at the end of August 2012, a decrease of 0.3 percent from August a year ago and a decrease of 0.8 percent from last month. At the current shipping rate, this represents 3.2 month's supply-in-inventory, an increase of 5.1 percent from a year ago.