US shipments of copper and copper alloy products from service centres increased by 9.6 percent in June compared with May, and rose 22.5 percent above June last year, with all product categories registering double-digit percentage gains for the first half of 2004, said an industry group on Wednesday.
Total warehouse shipments increased in June 2004 to 36.01 million lbs. from 32.84 million lbs. in May, and was higher than the 29.38 million lbs. in June 2003,
according to a Copper and Brass Servicenter Association report .
Copper service centres are distributors that buy products form mills and sell them to specialised producers, like machine and stamping houses.
CBSA said the average daily shipping rate from service centres in June was even with the May rate, but surged 14.7 percent over the June 2003 daily rate.
Copper product shipments came to 12.51 million lbs. in June, 11.3 percent higher than the 11.24 million lbs. in May, and a 17.7 percent leap above the 10.63 million lbs. shipped in June 2003 the association said.
Shipments of copper alloy products, at 23.50 million lbs. in June, was up 8.8 percent from 21.61 million lbs. in May and a sizeable 25.3 percent gain over the 18.75 million lbs. shipped in June of last year, said CBSA.
For the 2004 first half, warehouse shipments totalled 213.65 million, 18.5 percent greater than 180.26 million lbs. shipped in the comparable 2003 period. Copper product shipments in the first six months came to 72.36 million lbs, up 23 percent from 58.82 million lbs. in the 2003 first half. And, alloy product shipments rose by 16.5 percent in the 2004 first half to 138.29 million lbs, up from 118.67 million lbs. in 2003 six month period.
A cross section of service centre and brass mill executives surveyed by CBSA indicated that summer business was better than usual. The association said executives expressed "considerable optimism that the fourth quarter will be strong."
The group added that a couple of service centres said they had the best June ever, and one metal strip plate member also said June had been the company's best month on record.
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