Canadian Service Center Shipments, Inventories in September

Steel shipments by Canadian service centers in September totaled 356,600 net tons, down 8.0 percent from the previous month, and down 3.8 percent from September 2016, reports the Metals Service Center Institute (MSCI). On a daily basis, total shipments were 17,800 tons per day in September (a 20-day month), up from 17,600 tons per day in August (a 22-day month), and up compared to a year ago when they were 17,700 tons per day (a 21-day month). Total steel inventories at the end of the month were 1,163,200 tons, down 1.7 percent from last month, but up 4.2 percent from this time last year.

The daily average receipt rate for September was 16,850 tons per day, down from 18,023 in August. Total September steel receipts were 337,000 tons, down 59,500 tons over August. According to MSCI, total steel product inventories stood at 3.3 months at the end of September, up from 3.1 months the month before.