Canadian Service Center Shipments Up 14.5 Percent

Steel shipments by Canadian service centers in May totaled 415,000 net tons, up 14.5 percent from the previous month and up 6.8 percent from May 2016, reports the Metals Service Center Institute. On a daily rate basis, total shipments were 18,900 tons per day in May (a 22-day month), down from 19,100 tons per day in April (a 19-day month), but up compared to a year ago when they were 18,500 tons per day (in a 21-day month). Total steel inventories at the end of the month were 1,109,700 tons, down 2.9 percent from last month and down 3.5 percent from this time last year.

The daily average receipt rate for May was 17,345 tons per day, down from 17,921 tons per day in April. Total May steel receipts were 381,600 tons, up 41,100 tons over April. According to the MSCI, total steel product inventories stood at 2.7 months at the end of May, down from 3.2 months the month before.