Centers' steel shipments up, inventories drop

Jun 15, 2012 | 04:51 PM | Corinna Petry

Tags  flat-rolled steel, pricing, mill lead times, risk, inventories, Metals Service Center Institute, Lourenco Goncalves, Metals USA Corinna Petry

CHICAGO — Shipments of steel products from U.S. and Canadian service centers rose in May compared with April, and distributors see demand holding up. Yet those factors haven’t done anything to change the current flat-rolled steel price slide, sources told AMM Friday.

"Shipments are up because the real economy is consuming steel," according to Lourenco Goncalves, president and chief executive officer of Metals USA Holdings Corp., Fort Lauderdale, Fla.

Yet steel inventories fell 0.7 percent in the United States and 3 percent in Canada in May. ....

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