Economy
Canadian Service Centers Reduce Inventories
Written by Brett Linton
October 16, 2013
Canadian shipments for all steel products in the month of September were 474,900 net tons, a decrease of 0.8 percent from the month before but an increase of 1.1 percent from September 2012. Inventories at the end of the month stood at 1,297,700 tons, a decrease of 6.6 percent from last month and a decrease of 20.4 percent from the same month one year ago. The daily average receipt rate for September was 19,154 tons (20 day month), down slightly from 19,285 tons the month before (21 day month). September receipts were 21,100 tons lower than August totals. According to the MSCI, total months on hand stood at 2.7 months on both an unadjusted and seasonally-adjusted basis.
Flat Rolled
Canadian shipments of flat rolled products for the month of September were 237,500 tons, a decrease of 4.0 percent from the month before but an increase of 2.6 percent from September 2012. Inventories at the end of the month were 690,200 tons, a decrease of 8.8 percent from last month and a decrease of 22.0 percent from the same month one year ago. The daily receipt rate for September was 8,543 tons, down from 8,803 tons the month before. Total tons received were 170,500, down from 184,500 the month before. Flat rolled inventories stood at 2.9 months on both an unadjusted and seasonally-adjusted basis.
Plate
Canadian shipments for plate products in the month of September were 91,200 tons, an increase of 4.2 percent from the month before but a decrease of 5.3 percent from September 2012. Inventories at the end of the month were 237,700 tons, a decrease of 6.7 percent from last month and a decrease of 27.6 percent from the same month one year ago. The daily average receipt rate for September was 3,732 tons, up slightly from 3,725 tons the month before. Plate inventories stood at 2.6 months on both an unadjusted and seasonally-adjusted basis.
Pipe and Tube
Canadian shipments for pipe and tube products in the month of September were 53,000 tons, an increase of 2.5 percent from the month and were exactly the same as the levels in September 2012. Inventories at the end of the month were 124,700 tons, a decrease of 2.8 percent from last month and a decrease of 9.4 percent from the same month one year ago. The daily average receipt rate for September was 2,423 tons, up from 2,403 tons the month before. Pipe and tube inventories stood at 2.4 months unadjusted or 2.3 months on a SA basis.
Brett Linton
Read more from Brett LintonLatest in Economy
House committee blocks GOP budget proposal
The budget proposal has big implications for steel and manufacturing.
Manufacturing in New York state contracts again in May
Manufacturing activity in New York state declined for the third consecutive month, according to the May Empire State Manufacturing Survey from the Federal Reserve Bank of New York. Responding firms continue to forecast weaker business conditions in the coming months.
Chicago Business Barometer falls back in April, remains in contraction
The Chicago Business Barometer declined in April, reversing March’s gains, according to Market News International (MNI) and the Institute for Supply Management (ISM).
Fewer manufacturers optimistic about the economy
PMA’s April report shows that only 16% of surveyed manufacturers anticipate an increase in economic activity in the next three months (down from 23% in March)
Architecture billings continue to slide in March
Architecture firms said billings continued to decline in March, according to the latest Architecture Billings Index (ABI) released by the American Institute of Architects (AIA) and Deltek.