Centers’ steel shipments, stocks fall in November MSCI

Dec 18, 2007 | 07:04 AM |

North American steel producers seeking price increases on sheet, plate and bar products after the New Year continued to get good news from service centers, which are reporting continuing declines in inventory levels, according to the latest data from the Metals Service Center Institute (MSCI), Rolling Meadows, Ill.

MSCI's November Metals Activity Report was tempered, however, with a warning that an uncertain economic outlook for North America compounded by seasonally low demand led to reduced shipments of steel and aluminum products from metals service centers in the United States and Canada.

Inventories continued to decline from year-ago levels as service centers remained reluctant to restock and are delaying most new orders until required by seasonal upswings, the report said.

On the steel side, North American producers have been awaiting better news from service center inventory levels. They have increased prices on carbon flat-rolled products twice, seeking increases totaling $60 a ton for January and February shipments.....