According to a report today from the Metals Service Center Institute, the rate of decline of steel service center shipments from 2015 levels accelerated again in both the United States and Canada in July. Inventory levels decreased in response to lagging shipments.
In July 2016, US service center steel shipments decreased by 15.2 percent from July 2015. Steel product inventories decreased 14.5 percent from July a year ago.
Meanwhile, Canadian service center shipments of steel products decreased by 14.9 percent in July 2016 from July 2015. Steel product inventories decreased 25.6 percent from July a year ago.