U.S. shipments of steel products decreased substantially in May compared to a year ago and aluminum shipments declined as well, according to Metals Service Center Institute.
MSCI reports in May U.S. service center steel shipments decreased by 12.6% from May 2014. Steel product inventories increased 11% over May a year ago. At the current shipping rate, this represents 2.8 months of supply in inventory.
U.S. service center shipments of aluminum products in May decreased by 3.3% from the same month in 2014. Inventories of aluminum products increased 2.7% from May a year ago. At the current shipping rate, this represents 3.0 months of supply in inventory.