The Metals Service Center Institute (MSCI) reported Tuesday that US service centers shipped 3.8 million tons of steel products in March, a decrease of 0.5 percent from March 2011. For 2012 year-to-date, steel shipments were 11.2 million tons, a 7.2 percent increase from the same period in 2011. Steel product inventories were 8.9 million tons at the end of March 2012, an increase of 10.6 percent over March a year ago but a decrease of 0.6 percent from last month. At the current shipping rate, this represents 2.3-months' supply in inventory, an increase of 11.1 percent from a year ago.
Canadian Service Centers shipped 575,600 tons of steel products in the month of March 2012. This represents a decrease of 6.4 percent from March 2011. For 2012, year-to-date steel shipments were 1.7 million tons, an increase of 1 percent from the same period in 2011. Steel product inventories were 1.7 million tons at the end of March 2012, an increase of 11.6 percent from March a year ago and a decrease of 1 percent from last month. At the current shipping rate, this represents 3-months' supply in inventory, an increase of 19.3 percent from a year ago.