CHICAGO - Purchasing managers throughout the supply chain lowered their steel inventories last month and most intend to maintain them at around current levels for the next several months, while shipments and order backlogs are up or at least steady. Some 23.1 percent of respondents to the Institute for Supply Management's Steel Buyers Forum monthly survey held less than one month's supply in February, up from 16.7 percent the previous month, while those holding more than 60 days' inventory dropped to 15.4 percent from 33.3 percent.
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