US, Canadian steel solution center supplies blended in March
US solution facility stocks of steel items got in March, while Canadian steel inventories rose to their highest level given that June 2013, according to Metals Solution Facility Institute data released Tuesday.
At the end of March, United States service facilities stocked 8.27 million st of steel items, down 2.7% from 8.49 million st a year ago and also 3.6% from 8.58 million st in February. Service center supply in March represented 2.2 months of supply based on existing shipping degrees, down from 2.5 months in February.
Bank of America Merrill Lynch expert Timna Tanners noted the decline was steeper than the typical February-to-March decline of 0.7%. Architectural inventories increased 1% month on month-- the only product to reveal an increase. Flat-rolled inventories dropped 5.6% from the month before, according to Tanners' record.
March deliveries climbed 7.2% year on year to 3.68 million st and also are up 8.7% from 3.38 million st in February. US solution facilities shipped 175,000 st/day in March, the highest average considering that January 2012, according to historic MSCI information.
Tanners attributed the spike to weather-related disturbances in January and February. She kept in mind that March flat-rolled shipments are up 8.2% year on year, while plate deliveries climbed 6.7% as well as stainless shipments jumped 10.2%.
Year-to-date deliveries totaled 10.7 million st via March, up 2.5% year on year. United States solution center shipments increase, inventories contract estimates steel intake will certainly grow by 5% in 2014, with enhanced demand related to nonresidential construction.
CANADIAN SOLUTION FACILITIES INCREASE DELIVERIES
Canadian solution center inventories were 1.47 million st at the end of March, down 14.9% from 1.73 million st in March 2013, however up 5.5% from virtually 1.4 million st in February.
At present delivery prices, supplies in March stand for 2.9 months of supply, down from 3.1 months in February.
March inventories were the highest because June 2013, when Canadian stocks totaled 1.48 million st, representing 3.3 months of supply.
this website completed 499,700 st in March, up 4.8% from 472,200 st in March 2013. Deliveries climbed 11.4% from February's 448,500 st. Year-to-date steel deliveries are down 1% year on year with 1.44 million st delivered in first-quarter 2014.