New Report Preview:

June MSCI shipments fell 4.4%, twice the normal seasonal decline, as most types of steel registered weaker shipping performance than seasonally normal and total inventories fell a scant 0.8%.  Most disappointing was the 5.5% decline in flat-rolled (FR) shipments; coupled with a nominal 1.2% decline in FR inventories, adjusted MOS rose from 2.2 to 2.3, as compared to our hoped-for drop.

Our full report is available to subscribers and provides further thoughts on June distributor shipments and inventories by product as well as implications for steel equities.

For a copy of our report and a free trial subscription, please contact us.