MSCI¡¯s Metals Activity Report details shipment and inventory totals for steel and aluminum at service centers in the U.S. and Canada. Service center shipments correspond to a substantial volume of the metals consumed by machine shops and fabricators, and the activities at those operations are a reflection of industrial activity in the North America.

U.S. service centers shipped 3.18 million tons of steel products during February, 4.1% more than during January but 4.8% less than during February 2015. The daily shipping rate declined slightly from January, down by 1,300 tons to 151,400 tons/day. For the first two months of 2016, the U.S. service centers have shipped 6.23 million tons of steel products, which is 9.1% less than the two-month total for 2015.

Steel inventory levels at U.S. service centers declined 1.4% from January to 7.8 million tons. That represents a 20.6% decline from the year-ago steel inventory total. At their current shipping rate, MSCI estimated the U.S. service centers have a 2.5-month supply of steel products in stock.

Canadian service centers shipped 396,900 tons of steel products during February, 1.8% more than during January and 2.0% more than during February 2015. The daily shipping rate fell by 600 tons/day from January, to 18,900 tons/day. Year-to-date, the Canadian centers have shipped 786,500 tons of steel products, which is 1.0% less than the January-February 2015 aluminum shipment total.

Inventories for steel products at Canadian centers declined 3.0% from January, holding now at 1.21 million tons. That figure represents a 21.6% decline from the centers¡¯ February 2015 steel inventory level. At their current shipping rate, Canadian service centers are estimated to be holding a 3.1-month supply of steel products.

U.S. service centers shipped 128,000 tons of aluminum products during February, 4.0% more than during January and 0.4% less than during February 2015. The daily shipping rate remained unchanged from the previous month at 6,100 tons/day. Year-to-date, the service centers have shipped 251,000 tons of aluminum products, which is 3.0% less than the January-February 2015 shipment total.

Inventories for aluminum products at U.S. centers declined 0.9% from January, holding now at 378,300 tons. That figure represents a 7.7% drop from the February 2015 inventory level. At their current shipping rate, U.S. service centers are estimated to be holding a 3.0-month supply of aluminum products.

In Canada, service centers¡¯ February aluminum products shipment rose 5.1% from January to 10,300 tons, though that figure is 4.7% less than the February 2015 total. The daily shipping rate remained unchanged at 500 tons/day. The year-to-date total for aluminum products shipments is now 20,200 tons, which is down 10.0% from the January-February 2015 total.

Canadian centers¡¯ aluminum products inventories increased 5.2% from January to 32,100 tons, though that figure is down 17.9 compared to the February 2015 inventory total. At the current shipping rate, MSCI estimated the Canadian centers have a 3.1-month supply of aluminum products. 

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