MSCI data shows shipments & inventories higher but months on hand stable
The Metal Service Center Institute (MSCI) released their shipments and inventory data for the month of February. Shipments of all steel products in the United States increased from 128,900 tons per day to 133,000 tons per day while inventory levels increased to 6,484,500 tons or 2.4 months supply (unadjusted). Although total tons on the floor increased the months of supply has remained stable due to the shipment increase.
Carbon flat rolled shipments increased by 4.5% from January 2010 levels to 84,000 tons per day. This represents a 20.1% increase compared to February 2009 shipments. Flat rolled inventories increased by 137,400 tons to 3,733,500 short tons which represent a 2.2 month supply at current shipment levels and the months on hand has not increased from the prior month.
Carbon plate shipments increased from 12,000 tons per day in January of this year to 12,600 tons per day during February. Inventory levels grew by 25,100 short tons to a total of 725,400 tons which represents a 2.9 month supply at current shipment levels. Plate inventories are down by 429,100 tons compared to February 2009.
February 2010 Pipe and tubing shipments remained at 9,000 tons per day as they had during January of this year. Inventory levels essentially remained stable at 506,800 tons as did the months of supply at 2.8 non-adjusted and fell slightly to 2.7 months on a seasonally adjusted basis.