Aluminum shipments rise, but nerves mounting
Nov 15, 2012 | 04:56 PM
| Suzy Waite
Tags
Metals Service Center Institute,
MSCI,
aluminum,
service centers,
fiscal cliff,
Suzy Waite
NEW YORK — Aluminum shipments by U.S. service centers logged a double-digit percentage rise in October compared with September, but with many distributors remaining wary about the impending "fiscal cliff" in Washington, most say the industry is not out of the woods just yet.
U.S. service centers shipped a total of 125,000 tons in October, up 11.1 percent from 112,500 tons in September but down about 2 percent compared with 128,000 tons in October 2011, according to data compiled by the Metals Service Center Institute (MSCI). The month-over-month increase in shipments led to a 9-percent drop in inventories in October, with U.S. service centers holding three months’ worth of material on their floors compared with 3.3 months’ worth in September.....
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