Steel shipment continues on upward trend in US and Canada

Friday, 21 Jan 2011

According to Metals Activity Report, US metals service center steel shipments for 2010 rose by 20.6% YoY above those of 2009 to nearly 35.7 million tonnes, while in Canada, steel shipments rose by 15.3% YoY to about 5.67 million tonnes.

Year over year shipments of steel products from US metal centers rose by 25.6% in December 2010 to about 2.82 million tonnes. Inventories at the end of December of 7.71 million tonnes were 25.6% YoY above those of a year ago and, at current shipping rates, represented a 2.7 month supply.

Canadian metals service centers shipped 380,800 tonnes of steel products during December 2010 or 18.1% more than during the same month in 2009. Canadian steel inventories at the end of December of nearly 1.4 million tonnes were 34% YoY above year earlier levels and equal to a 3.7 month supply at current shipping volume.

The Metals Activity Report, based on data from metals service centers in the United States and Canada, is produced by the Metals Service Center Institute and a third party econometrics and strategy firm, McCoy, Scott & Co.