Canadian Service Center Shipments Hit Three-Year High in March

Steel shipments by Canadian service centers in March totaled 435,600 net tons, up 13.6 percent from February, and up 3.4 percent from March 2017, reports the Metals Service Center Institute (MSCI). This is the highest monthly shipment level seen since June 2015 when 437,000 tons were shipped from Canadian service centers. On a daily basis, total shipments were 20,700 tons per day in March (a 21-day month), up from 19,200 tons per day in February (a 20-day month), and up compared to a year ago when they were 18,300 tons per day (a 23-day month). Total steel inventories at the end of the month were 1,112,900 tons, down 3.1 percent from last month, and down 4.5 percent from this time last year.

The daily average receipt rate for March was 19,033 tons per day, up from 18,905 in February. Total March steel receipts were 399,700 tons, up 21,600 tons over February. According to MSCI, total steel product inventories in Canada stood at 2.6 months at the end of March, down from 3.0 months in February.