US MSCI steel inventories dropped in October

By Paul Ploumis (ScrapMonster Author)
November 19, 2015 06:02:17 AM
According to MSCI data, the steel inventory totaled 8.918 million short tons in the end of Oct ’15.US MSCI steel inventories dropped in October
ALBANY (Scrap Monster): The latest statistics released by the US Metals Service Center Institute (MSCI) suggests drop in steel inventories during the month of October this year.

According to MSCI data, the steel inventory totaled 8.918 million short tons in the end of Oct ’15. The inventory levels have fallen by 3% over the previous month. It must be noted that MSCI steel inventory levels had totaled 9.194 million short tons as at end-September this year. When compared with the levels a year before, the steel inventories in October were down by 4.2%. The year ago MSCI steel inventory levels had totaled 9.310 million short tons.

Also, US MSCI steel products shipments during the month of October totaled 3.363 million short tons. The shipments witnessed 3% rise when compared with the previous month. However, when compared with Oct ’14 shipment, the shipment during October this year was sharply down by 14%. The steel product shipment during the same month last year had totaled 3.910 million short tons. The cumulative steel shipments during the first ten months of the year declined 8% year-on-year to 33.87 million short tons.

The Metals Service Center Institute (MSCI) is a trade association that supports and represents the most elements of the metals value chain, including metals producers, distributors, and processors and, to a lesser extent, the interests of metals users. MSCI has more than 400 members operating from about 1,200 locations in the U.S., Canada, Mexico, and elsewhere around the world. Together, MSCI members constitute the largest single group of metals purchasers in North America.