Steel service centers reining in stock levels

Nov 15, 2012 | 05:11 PM | Corinna Petry

Tags  Metals Service Center Institute, shipments, inventories, flat rolled, long products, pricing, scrap, outlook

CHICAGO — Although total U.S. steel shipments in October were on the rise, service centers’ outlook for the balance of the fourth quarter—especially in terms of their confidence in replacing stock—has dimmed.

U.S. steel shipments by companies reporting to the Metals Service Center Institute (MSCI) jumped 14 percent in October vs. September to 3.51 million tons, MSCI data show. As total shipments increased, stocks on hand fell to 2.4 months’ worth of supply from 2.8 months’ worth in September. ....

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