Growth in metals shipments decelerates in June

Service center shipments in the US and Canada for both steel and aluminum increased from 2010 levels but the rate of growth slowed significantly. Inventory levels decreased in the US but increased slightly in Canada.

1. Aluminum Product Activity 134,300 tonnes of aluminum products were shipped by US service centers in June, an increase of 8.8% from the same month in 2010. For 2011 year to date, aluminum shipments were 763,600 tonnes an increase of 24.0% from the same period in 2010.

Inventories of Aluminum products were 351,200 tonnes at the end of June 2011 an increase of 12.9% over June a year ago and a decrease of 3.2% from last month. At the current shipping rate, this represents 2.6 month supply an increase of 3.8% from a year ago and a decrease of 8.2% from last month.

2. Canadian Steel and Aluminum Product Activity 13,400 tonnes of aluminum products were shipped by Canadian service centers in June, an increase of 6.5% from the same month in 2010. For 2011 year to date, aluminum shipments were 74.5 thousand tons, an increase of 8.6% from the same period in 2010.Inventories of Aluminum products were 32.1 thousand tons at the end of June 2011, an increase of 4.7% from June a year ago and an increase of 4.9% from last month. At the current shipping rate, this represents 2.4 month supply, a decrease of 1.6% from a year ago and a decrease of 2.5% from last month.