Canadian Distributor Flat Rolled Inventories Jump to 4.7 Months Supply

Canadian shipments for all steel products in the month of December were 302,700 net tons, a decrease of 24.1 percent from the month before and decrease of 19.2 percent from December 2014. Inventories at the end of the month stood at 1,297,000 tons, up 0.8 percent from last month but down 21.7 percent from the same month one year ago. The daily average receipt rate for December was 14,919 tons per day (21 day month), down from 16,505 tons per day the month before (20 day month). Total December receipts were 16,800 tons lower than the November figure. According to the MSCI, total steel product inventories stood at 4.3 months at the end of December, up from 3.2 months in November and the highest level since December 2014.

Flat Rolled