Steel distributors brace for further slowdowns
Aug 16, 2012 | 02:28 PM
| Corinna Petry
Tags
Metal Service Center Institute,
steel shipments,
inventories,
distributor outlook,
manufacturing,
energy,
agricultural equipment
CHICAGO — Steel distributors have lowered their expectations through the end of the summer, with many continuing to buy conservatively and sell off stock.
"It’s slower this summer than in the past couple summers," said a Canadian steel service center executive. "Whether that’s because there was a stronger pickup in spring, which pulled forward production, we aren’t sure. That may have resulted in a halt in July (and) August (activity)."
Shipments by U.S. steel distributors in July totaled 3.3 million tons, down 6.3 percent from 3.5 million tons in June, while Canadian shipments were down 11.3 percent to 471,000 tons, data from the Metals Service Center Institute show.....
To access AMM's full content, please log in below. If you do not have an AMM account, we invite you to take a free trial or subscribe below.
Already a registered amm.com user?
Access to amm.com editorial content is granted only to paid subscribers and trialists. If you do not have an active account in your own name, please either subscribe or take a trial and you will have instant access to amm.com content. Sharing your login credentials with individuals who are not subscribers represents a violation of AMM copyright.
Every morning, every minute — no matter how often you follow the markets, there's an AMM subscription to fit your needs.
Subscribe Now
Click Here
Not sure if you are ready to invest in a subscription right now? Take a free, no-obligation trial. Start your free trial today.
Take a Free trial
Click Here