yes, quite so !~ or, “Don’t you Know it!”
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past that, this, on the general Economy theme –

“Published July 21, 2009Reprints | Printer Friendly

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Inventory de-stocking continues through June

North American metals service centers’ shipments continued to decline in June, according the Metals Service Center Institute. The Institute also concludes that inventories of both steel and aluminum fell further in the U.S. Canadian centers also cut into their steel inventories, while aluminum stocks stayed essentially even with their May totals.

MSCI’s monthly Metals Activity Report consists of shipment and inventory data reported by metals service centers in the U.S. and Canada.

U.S. service centers’ steel shipments totaled 2.46 million tons in June, -41.8% less than the June 2008 total.

For the first six months of 2008, U.S. centers’ steel shipments totaled 14.8 million tons, a decline of -43.9% versus the first half of 2008. As June ended, the centers’ steel inventories amounted to an estimated 5.98 million tons, down -44.4% versus 2008. At the current shipping rate, this total represents a 2.4month supply.

Canadian service centers’ steel shipments totaled 399,200 tons in June, -31.7% versus June 2008. For the first six months of 2009, Canadian centers shipped 2.46 million tons, -35% versus the first half of total for 2008. At the end of June, Canadian centers reported 1.05 million tons of steel in inventory, -33% versus the same point in 2008. At their current shipping rate, Canadian service centers have an estimated 2.6month supply of steel.

U.S. service centers shipped 89,700 tons of aluminum in June, -39.1% from June 2008. Their first half 2009 aluminum shipments amounted to 524,600 tons, -43.2% against the first six months of 2008.

At the end of June, U.S. service centers’ inventories of aluminum were estimated at 269,800 tons, a -44.1% reduction from the same period of 2008. At the current shipping rate, the service centers appear to have 3.0month supply.”

something about the .6x Economy….