Steel shipments from European service centers and stockholders fell in the first quarter versus the same period last year, EUROMETAL, the European Federation of Steel, Tubes and Metals Distribution & Trade, said on Monday.
In Q1 shipments by European flats stockists and distributors continued their negative trend of late last year and dropped by 4.5 %, when compared to Q1 2018. During the same period EU Multi-Product & Proximity Steel Stockholding Distribution continued to note lower shipments for most products in its portfolio with total shipments down by 3.4% year on year.
Only profiles, rebars and hot-rolled flats registered higher steel service center (SSC) shipments.
According to the note, the disappointing trend in SSC shipments was accompanied by a rising trend in SSC stock indices.
When expressed in days of shipments, stocks at EU SSC in March 2019 reached 69 days’ worth, compared to 64 days in March 2018.
While EUROMETAL does not specify volumes, the association releases an index for stock levels with the average of 2015 equivalent to 100. On this basis, stocks for March were at 115, compared with 110 in March 2018.
The stock volumes index of EU Multi-Product & Proximity Steel Stockholding Distribution registered at 101 in March versus an index of 103 one year before. When expressed in days of shipments, stock volumes in March leveled at 77 days of shipments, against 75 days in March 2018.
— Annalisa Villa