Analysts seeing stronger end to ’09 for steel

Dec 16, 2009 | 12:17 PM | Lisa Gordon

Declining service center inventories and higher shipments in November may help 2009 close out on a more positive note for steel mills and distributors, according to industry analysts.

"Service center inventories and shipments both had good news, as total inventories fell 1.1 percent (in November) due to a 1.2-percent decline in carbon steel tonnage," said Michelle Applebaum, principal at Steel Market Intelligence, Chicago, commenting on the latest Metals Service Center Institute monthly activity report (AMM, Dec. 16).

While supply on hand increased to 2.5 months from 2.3 months in October, when seasonally adjusted "the supply actually declined to 2.2 months on hand," Applebaum said.....

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