Three-quarters of steel buyers said shipping levels in March were above those of three months earlier, a sharp increase from the previous month, according to the Institute for Supply Management's Steel Buyers Forum.
The March survey showed a strong improvement from the 57.1 percent who reported higher shipping levels in February vs. three months earlier and more than triple the 23.5 percent who saw higher shipments in March 2009.
In addition, 83.3 percent of buyers said their March shipments were above those of 12 months ago compared with 57.1 percent in February and only 5.9 percent in March 2009. Only 8.3 percent of steel buyers in March said their current shipments were lower compared with three months earlier and 12 months ago.
"Our first-quarter shipments were up 25 percent compared to the same quarter last year," a Midwest distributor told AMM. However, "they aren't near what they were in 2007 and 2008, so while we see a comeback in the market it's certainly not back to pre-recession levels."
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