Metals service center shipments in the US and Canada for aluminum continued to increase at robust rates in October, the Metals Activity Report from the Metals Service Center Institute shows. Inventory to sales ratios remained stable for aluminum in both the US and Canada.
October shipments of aluminum products from US metals service centers totaled 116,100 tons or 25.6% more than October 2009 shipments.
For the first 10 months of the year, aluminum shipments of 1.09 million tons were up 24.6% from a year ago.
Aluminum inventories, which have been rising in absolute terms since November 2009, totaled 337,000 tons at the end of October. That stockpile was 30.6% larger than totals of a year ago and, at current shipping rates, equal to a 2.9-month supply, the highest since February.
Canadian shipments of aluminum products totaled 11,700 tons in October, a rise of 6.1% from October 2009.
Year to date total shipments of 113,600 tons at the end of October were up 6.0%.
Aluminum inventories at Canadian metals centers of 31,900 tons were 19.9% larger than at the end of the 2009 month and equal to a 2.7-month supply at current shipping rates.
The Metals Activity Report, based on data from metals service centers in the United States and Canada, is produced by the Metals Service Center Institute and a third party econometrics and strategy firm, McCoy, Scott & Co.
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