The latest Metals Activity Report (MAR) released by the Metals Service Center Institute (MSCI) demonstrates that June steel shipments of metals service centers in the United States and Canada improved from May levels, while inventory levels continued to decline.
June 2009 shipments of steel products from US metals service centers totaled about 2.46 million net tons (nt), representing an 8.1 percent increase from May; however, shipments were down 41.8 percent from June 2008. Furthermore, total US steel service center shipments over the first half of the year amounted to approximately 14.8 million nt, which is an estimated 43.9 percent decline from the same period of 2008.
Meanwhile, the 5.98 million nt of steel inventory held at US service centers at the end of June represented about a 7.0 percent decrease from end-May volumes, and a 44.4 percent decrease from June 2008. At current shipping rates, the June inventory levels reflect about a 2.4-month supply, down from an approximate 2.9-month supply at the end of May.
Canadian metals service center steel shipments totaled 399,200 in June, which is about a 6.0 percent increase from May shipments, but is a 31.7 percent decline in volume from June 2008. Year-to-date steel shipments total about 2.46 million nt, down 35.0 percent from the same period last year.
Furthermore, Canadian service center inventories were estimated at about 1.05 million nt at the end of June, which is about a 5.6 percent drop from May, and a 33.0 percent decline from June 2008. At current shipping rates, June inventory levels reflect about a 2.6-month supply, down from an approximate 3.0-month supply at the end of May.