Shipments of steel and aluminum from metals service centers in the United States and Canada surged in January, according to the Metals Activity Report from the Metals Service Center Institute shows. Sequential, month-end inventory levels also rose for both metals in both nations.
Steel shipments from U.S. metals service centers totaled 3.42 million tons in January, up 32.5% from January 2010 and well above December shipments of 2.82 million tons. U.S. steel inventories at the end of January totaled 8.03 million tons, 28.3% more than January 2010 stockpiles and equal to a 2.4-month supply at current shipping levels.
In Canada, January steel shipments from metals centers totaled 545,100 tons, a rise of 22.7% from January 2010 and substantially higher than shipments of 380,800 tons in December. End-of-month inventories of 1.48 million tons were 25.1% above stocks at the end of January 2010 and equal to a 2.7-month supply.
January aluminum shipments from U.S. metals service centers of 121,400 tons were 29.7% above January 2010 shipments and well ahead of December shipments of 100,300 tons. U.S. aluminum inventories at the end of the month totaled 352,900 tons, 38.7% more than at the end of January 2010 and equal to a 2.9-month supply.
Canadian metals centers shipped 12,000 tons of aluminum in January, or 13.4% more than January 2010. Inventories at the end of the month totaled 31,600 tons of aluminum, just 4.0% more than a year ago and equal to a 2.6-month supply at current shipping levels.
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