According to just released data from the Metal Service Center Institute (MSCI) total steel shipments (all products) out of U.S. service centers was 3,665,300 tons during the month of February 2012. This represents an increase of 14.3% compared to one year earlier but was 1.86% lower than January 2012 shipments which totaled 3,723,200 tons over the same number of shipping days.

The daily shipment rate in February was 174,100 tons per day which was 8.9% higher than one year ago. Last February the daily shipment rate was 6.8% lower than January 2011. This year the February shipment rate is 1.7% lower than the month of January and the 174,100 tons shipped per day was better than any month during calendar year 2011.

Inventories (all products) grew by 1.8% in February and on a non-seasonally adjusted basis stood at 2.4 months (no change from January) and on a seasonally adjusted bases rose to 2.5 months from 2.4 months in January.

Based on the first two months 2012 total steel shipments are +11.6% higher than during the first two months 2012. Read Steel Market Update’s latest newsletter for shipments and inventory of U.S. carbon flat rolled and carbon plate products as well as Canadian shipments and inventories.

Our SMU/Steel Reality Days Supply is Indicating a Tightening of Flat Rolled Steel Inventories at U.S. service centers. To learn more about our analysis of the MSCI data you can read more in our most recent issue of our Steel Market Update newsletter by signing up for a free trial or by becoming an annual member.