German stocks stable in August, sales up

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Inventories at German stockholders remained stable at 2.4 million metric tons in August compared to the same time last year, while sales went up 3.5% year-on-year to 896,544 mt, according to latest figures from the stockholders’ association Bundesverband Deutscher Stahlhandel (BDS).

In a month-on-month comparison, stocks fell by 2.8% in August, whereas sales grew by 5.2%, indicating an uptick in market activity towards the end of the summer holidays. As reported, stocks in July grew slightly by 0.9% m-o-m, whereas sales fell by 13.6%, reflecting market developments at the beginning of the summer when activity started to slow.

Stocks of long products grew by 8% y-o-y to 858,396 mt, while flat product fell slightly by 0.7% y-o-y to 1.4 million mt. Sales of long products showed a 1% y-o-y decline to 289,820 mt. Sales of flat products went up by 11.3% y-o-y to 828,346 mt.

Laura Varriale, PLATTS

58 EUROPEAN STEEL INDUSTRY CEOS WRITE TO EU HEADS OF STATE AND GOVERNMENT

58 of the most senior executives from the European steel industry have addressed EU leaders with a clear message: “Make the right choices to ensure that our sector and its value chains flourish, investment continues, and the jobs of the men and women who work in our sector are sustained.”

This call comes ahead of the European Council summit of 20-21 October 2016, towards the end of a year that has seen the European steel industry under continued pressure. Notably, EU leaders will discuss the modernisation of Europe’s Trade Defence Instruments, which the European steel industry has consistently pushed for.

The Open Letter highlights the steel industry’s challenges, and calls on EU policy makers to develop more effective, faster measures to re-establish fair trade, to align with the US on the Market Economy Status of China, and build an EU ETS that creates no cost burden beyond economic and technological feasibility.

The Open Letter can be found below:

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