NEW YORK U.S. service center shipments of stainless steel dipped in November, according to the latest Metals Service Center Institute (MSCI) data.
Stainless steel shipments totaled 133,100 tons in November, down 18.3 percent from 163,000 tons the previous month but unchanged from November last year. Year-to-date shipments of more than 1.64 million tons were just 0.1 percent higher than in the first 11 months of last year.
Stainless steel inventories totaled 451,200 tons (3.4 months supply at current shipping rates) at the end of last month, up 2.7 percent from 439,500 tons (2.7 months supply) in October and 7.5 percent higher than 419,700 tons (3.2 months supply) a year earlier.
Shipments by Canadian distributors totaled 12,600 tons last month, down 13.7 percent from 14,600 tons in October and 5.2 percent below 13,300 tons a year earlier, the MSCI data shows. Year-to-date shipments of 146,300 tons were down 7.4 percent from 158,000 in the first 11 months of last year.
Inventories of 40,000 tons (3.2 months supply) at the end of November were up 4.2 percent from 38,400 tons (2.6 months supply) the previous month and 2.3 percent higher than 39,000 tons (2.9 months supply) a year earlier.