Steel shipments from European service centers and stockholders dropped across all products in November, according to the European Federation of Steel, Tubes and Metals Distribution & Trade (EUROMETAL).
Shipments at steel service centers dropped by 4% in November last year compared to November 2017, meaning the January-November total was down 2.6%.
Shipments at multi-product stockholders dropped 1% y-o-y in November. Eurometal said that only rebars and quarto plates registered higher shipments. In the January to November period shipments were roughly flat on year.
While the association does not specify volumes, EUROMETAL releases an index for stock levels with the average of 2015 equivalent to 100.
On that basis, stock levels in Europe stood at 106 in November at steel service center distributors and 94 at multi-product sites. Stocks of hot-dip galvanized sheet remained particularly high at steel service centers, EUROMETAL said.
When expressed in days of shipments, stocks at European steel service centers reached 67 days in November, the same level as in November 2017. For multi-product stockholders, stocks stood at 75 days of shipments, against 69 days in November 2017.
— Laura Varriale
