Service center steel inventories, shipments up in October MSCI

Nov 17, 2006 | 03:48 PM |

Steel stocks held by U.S. service centers increased for the 11th consecutive month in October to a record 16.8 million tons, but the Metals Service Center Institute (MSCI) said that judging by historic patterns they might have reached their peak.

Aluminum inventories held by distributors increased for the seventh consecutive month, the Rolling Meadows, Ill.,-based trade group said in its latest metals activity report.

Service center steel inventories in October were 32.3 percent higher than those held a year earlier and represented 3.6 months' supply, down from 3.8 months' supply the previous month—the highest level tallied by the MSCI since February 2003.....

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