North American steel and aluminum shipments declined in January, but not
by much, which was seen as good news by the Illinois-based Metals Service
Center Institute.
"Despite the weak overall economy, January declines in steel and aluminum
shipments from US and Canadian metals service centers were small, suggesting
more strength in metals end-user markets than had previously been supposed,"
said an MSCI statement Tuesday, citing data from its monthly Metals Activity
Report.
Steel shipments were down from year-earlier levels just 2.7% in the US and 2.3% in Canada, while Canadian aluminum shipments dropped a modest 1.3%.
"Only the 5.9% decline in US aluminum shipments suggested larger economic weakness," reported the MSCI, "yet that number, following the 13.4% year-over-year decline in US aluminum shipments in December, was also relatively small."
Aluminum inventories in both countries rose, and Canadian steel inventories also increased slightly. Steel inventories at US service centers declined by less than 1% from December levels.
STEEL ACTIVITY
Steel shipments from US metals service centers fell to 4.5 million short tons in January. Month-end inventories totaled nearly 12.2 million st, 25% lower than a year ago. At current shipping rates, the number of months of supply on hand was 2.7, well below the December months-of-supply figure. This was because of the onset of typical spring seasonal supply requirements,according to the MSCI.
Canadian service centers shipped 329,400 st of steel during January, down 2.3% from a year ago. Steel inventories in Canada ended the month at 1.2 million st, or 3.8% below January 2007, but slightly more than in December.Canadian steel inventories equaled a 3.7-month supply at current shipping rates, well below December.
by much, which was seen as good news by the Illinois-based Metals Service
Center Institute.
"Despite the weak overall economy, January declines in steel and aluminum
shipments from US and Canadian metals service centers were small, suggesting
more strength in metals end-user markets than had previously been supposed,"
said an MSCI statement Tuesday, citing data from its monthly Metals Activity
Report.
Steel shipments were down from year-earlier levels just 2.7% in the US and 2.3% in Canada, while Canadian aluminum shipments dropped a modest 1.3%.
"Only the 5.9% decline in US aluminum shipments suggested larger economic weakness," reported the MSCI, "yet that number, following the 13.4% year-over-year decline in US aluminum shipments in December, was also relatively small."
Aluminum inventories in both countries rose, and Canadian steel inventories also increased slightly. Steel inventories at US service centers declined by less than 1% from December levels.
STEEL ACTIVITY
Steel shipments from US metals service centers fell to 4.5 million short tons in January. Month-end inventories totaled nearly 12.2 million st, 25% lower than a year ago. At current shipping rates, the number of months of supply on hand was 2.7, well below the December months-of-supply figure. This was because of the onset of typical spring seasonal supply requirements,according to the MSCI.
Canadian service centers shipped 329,400 st of steel during January, down 2.3% from a year ago. Steel inventories in Canada ended the month at 1.2 million st, or 3.8% below January 2007, but slightly more than in December.Canadian steel inventories equaled a 3.7-month supply at current shipping rates, well below December.
