NEW YORK U.S. service center shipments of stainless steel rose last month, according to the latest Metals Service Center Institute (MSCI) data.
Stainless steel shipments totaled 163,000 tons in October, up 12.8 percent from 144,500 tons the previous month and 3.7 percent above 157,200 tons in the same month last year. Year-to-date stainless steel shipments of nearly 1.51 million tons were up 0.1 percent from the first 10 months of last year. Inventories totaled 439,500 tons at the end of October, up 2.9 percent from 427,100 tons a month earlier and 5 percent higher than 418,400 tons a year ago.
Stainless steel shipments by Canadian distributors totaled 14,600 tons last month, up 13.2 percent from 12,900 tons in September but down 3.6 percent from 15,200 tons a year earlier. Year-to-date shipments of 133,700 tons were down 7.6 percent from 144,600 tons in the first 10 months of last year. Inventories of 38,400 tons at the end of October were down 4.2 percent from 40,100 tons a month earlier and 9.3 percent lower than 42,300 tons a year ago.