On a three month moving average, (3MMA) basis, March total carbon steel shipments averaged 147,286 tons per day, compared to 162,819 tons per day in March 2018 (-9.5 % year on year, (y/y).

msci-fig1Figure 1 shows percentage change results for shipments, daily intake and inventory level. In all cases the percentage change references 3MMA y/y. For shipments and inventory, three columns of data are listed offering 12, 24 and 36 month changes.

All products groups posted y/y decreased intake %.  All carbon products reported an 11.7% Bar and Shapes y/y shipments fell 12.0%. Plate recorded a decline of 13.0% y/y. Structurals, (> or = 3 inch) 3MMA y/y shipments decreased by 7.3% y/y.

Overall inventory levels decreased in all product lines y/y except Structurals, (> or = 3 inch) at 4.0% y/y and Carbon Plate at 7.3% y/y. All carbon products decreased inventory by 4.0% y/y, Bar and shapes inventory was down slightly at 0.6% y/y, Carbon pipe and tube was down 5.6% y/y and Carbon sheet declined by 6.3%.

Intake was higher across the board, (+2.2%) except for Pipe & Tube which declined by 9.5%, 3MMA y/y.  Bar and Shapes intake surged by 17.4% y/y, as Sheet moved-up by 2.2% y/y. Structurals intake rose 0.7% y/y, while Plate intake moved higher by 8.2% y/y.

At Gerdau we scrutinize the MSCI release every month searching for clues on the industry’s performance. It’s important to us as a significant supplier of long steel products to our service center customers. It’s equally important to keep our steel consuming consumers informed.