EU service centre, distribution shipments rebound in March

EU-27 plus UK service centre (SSC) shipments rose 2.8% on-year in the first quarter, but shipments at multi-product and proximity steel stockholding distributors were down 0.2%, according to European distributors’ association EUROMETAL.

Strip Mill Products shipments surged 21.7% on-year in March after falling 1.7% on-year in February, Kallanish notes.

When expressed in days of shipments, stocks at EU SSC reached 57 days in March versus 76 days in March 2020. For March 2021, the index of stock volumes dropped to 83, compared with 91 in March 2020. The index is based on 100 as the average for 2018.

Multi-product and proximity steel stockholding distributors saw lower shipments for all long steel in Q1 but higher strip mill product, tubular product and stainless steel deliveries.

Shipments in March rose 8.6% on-year, with only rebar seeing a decline.

When expressed in days of shipments, stock volumes levelled in March at 54 days of shipments, compared to 65 days in March 2020. Stock volumes index fell to 76 in March from 84 a year earlier, with the 100 base as the average for 2018.

Adam Smith Germany