Steel service centers maintaining caution

Jul 17, 2013 | 05:26 PM | Catherine Ngai

Tags  steel, Metals Service Center Institute, MSCI, Middletown, AK Steel, steel distributors, destocking, Catherine Ngai

NEW YORK — U.S. and Canadian steel service centers continue to buy on an as-needed basis due to squeezed margins and changes on the supply side.

U.S. service centers shipped nearly 3.35 million tons of steel in June, according to Metals Service Center Institute (MSCI) data, down 8.5 percent from 3.66 million tons the previous month and 4.7 percent lower than 3.51 million tons in June last year.

In Canada, distributors shipped 453,700 tons of steel last month, down 11.9 percent from 515,000 tons in May and 14.6 percent lower than 531,200 tons a year earlier.....

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