Inventories
of steel and aluminum products at metals service centers in the United
States and Canada continued to decline in May, and shipments remained
weak, the Metals Activity Report from the Metals Service Center Institute
shows. Shipment-to-inventory ratios were flat in the United States but
rose modestly in Canada.
Steel
Product Activity
Steel shipments from U.S. metals centers
totaled 2.25 million tons in May, a reduction of 48.5% from May 2008
shipments. Steel shipments for the first five months of the year, at 12.3
million tons, are down 44.3% compared with last year’s period. U.S.
steel inventories at metals service centers totaled 6.46 million tons at
the end of May, 38.3% lower than year-ago inventories. At current shipping
rates, those stocks represented a 2.9-month supply.
Canadian metals service centers shipped
375,500 tons of steel products during May, or 40.3% lower volume than a
year ago. Year-to-date shipments in Canada total 2.06 million tons, down
35.6%. End-of-month stockpiles of 1.12 million tons of steel products were
30.3% lower than last year and, at current shipping rates, are equal to a
3.0-month supply.
Aluminum
Product Activity
Shipments of aluminum products from U.S.
metals service centers totaled 82,000 tons, 47.6% lower than in May 2008.
Sales for the year-to-date of 434,900 tons of aluminum are down 44% from
last year. U.S. aluminum inventories at the end of May of 282,300 tons
were off 41.7% from a year ago and, at current shipping rates, represent a
3.4-month supply.
Canadian shipments of aluminum products by
metals centers totaled 10,100 tons in May, 30.8% lower than a year ago.
For the first five months of the year, Canadian aluminum shipments total
53,900 tons, down 26.4% from the same period a year ago. Aluminum
inventories at the end of the month totaled 31,000 tons, off 14.6% from
last year and, at current shipping rates, equal to a 3.1-month supply.
