EU distributors continue feeling the pinch in June

EUROMETAL says activity at European distributors continued to be subdued in June, despite a marginal recovery compared with the low levels registered in May.

Steel service centres, for example, saw June activity drop by -16.5% year-on-year. In May the drop was twice as much, at -38.5% y-o-y. In the first six months of the year, however, the numbers indicate activity was down over -20% y-o-y, Kallanish notes.

Proximity and multi-products distributors, meanwhile, again showed more resilience. In June their activity dropped -10.2% y-o-y, bringing the total fall registered in January-June to -13.1% y-o-y.