Steel volumes dip but see uptick in Dec.

Dec 18, 2012 | 04:00 PM | Corinna Petry

Tags  Metals Service Center Institute, steel shipments, steel inventories, steel pricing, steel volumes, MSCI, Corinna Petry

CHICAGO — U.S. distributors’ steel shipments fell 3.5 percent on a per-day basis in November compared with a month earlier, but market players say some of that weakness has abated in December as buyers who reduced inventory too sharply ahead of the holidays were forced to re-enter the market for tons.

Last month, U.S. steel shipments totaled 3.09 million tons, according to Metals Service Center Institute data, a nearly 12-percent decline from October and 6.4 percent lower year on year. On a per-day basis, U.S. shipments totaled 147,200 tons, down from 152,600 tons per day during the previous month.

Canadian shipments totaled 495,100 tons in November, down 5.4 percent from 523,400 tons in October, with per-day steel shipments dropping to 23,600 tons from 23,800 tons in the same comparison.....

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