Canadian Service Center Shipments Up in August

Steel shipments by Canadian service centers in August totaled 387,500 net tons, up 11.8 percent from the previous month, and up 6.2 percent from August 2016, reports the Metals Service Center Institute (MSCI). On a daily basis, total shipments were 17,600 tons per day in August (a 22-day month), up from 17,300 tons per day in July (a 20-day month), and up compared to a year ago when they were 16,600 tons per day (a 22-day month). Total steel inventories at the end of the month were 1,182,800 tons, up 0.8 percent from last month and up 2.9 percent from this time last year.

The daily average receipt rate for August was 18,023 tons per day, down from 19,085 in July. Total August steel receipts were 396,500 tons, up 14,800 tons over July. According to MSCI, total steel product inventories stood at 3.1 months at the end of August, down from 3.4 months the month before.