Aluminum shipments rise in October
But shipments to date are down from the same period last year
Tom Stundza -- Purchasing, 11/18/2009 3:13:47 PM
October shipments of aluminum products from U.S. and Canadian metals service centers totaled 103,000 tons, a 5.6% rise from September shipments of 97,500 tons but 35.3% below year-ago volume of 159,2100 tons. In fact, aluminum mill product shipments for the first 10 months of the year of 986,200 tons are 60.3% lower than the volume of 1.636 million tons during the January-October period last year.
The Metals Activity Report of the Metals Service Center Institute shows that shipments of aluminum products from U.S. service centers in October totaled 92,500 tons, a 7% rise from September shipments but 36.1% below year-ago volume. Canadian aluminum shipments in October totaled 11,000 tons, down 1% from September and 23.7% lower than shipments in October 2008.
U.S. aluminum shipments for the first 10 months of the year of 879,000 tons were 41.1% lower than volume during the same period last year. Ten-month Canadian shipments of 107,200 tons were 25.2% below those of the same period last year.
Meanwhile, U.S. and Canadian inventories of 284,500 tons increased by just 0.4% to 283,400 tons last October. Note that stocks in October 2008 had been 470,300 tons.
U.S. aluminum inventories stood at 257,900 tons at the end of October, a 1.2% rise from September month-end inventories but 40.5% below those of the same time last year. At current shipping rates, aluminum inventories represented a 2.8-month supply. Metals service center aluminum inventories in Canada totaled 26,600 tons, a 7.4% decline from September and 26.8% below year-earlier inventories. Aluminum stocks were sufficient to meet demand for 2.4 months at current shipping rates.
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