The Metals Service Center Institute (MSCI) reported Tuesday that US service centers shipped 3.69 million tons of steel products in August, representing a 15.4 percent increase from August 2010. Additionally, year-to-date steel shipments were 27.67 million tons--a 17 percent increase over the same period in 2010. Steel inventories were up 13.7 percent year-on-year to 8.46 million at the end of August, and increased 0.5 percent compared to July. At the current shipping rate this represents 2.3 months of supply.
Canadian Service Centers shipped 541,000 tons of steel products in the month of August 2011, representing an increase of 10.5 percent from August 2010. Year-to-date steel shipments were 4.25 million tons, an increase of 12.2 percent from the same period in 2010. Steel product inventories were 1.6 million tons at the end of August 2011, an increase of 27.2 percent from August a year ago and an increase of 0.4 percent from last month. At the current shipping rate, this represents three months of supply.