EU steel service center shipments rise 3.3% on year in Oct

Flat steel shipments from EU service centers rose 3.3% year on year in October, indicating a buoyant market, while stocks fell, service center and distributors’ association EUROMETAL reported Dec. 8.

The October index of stock volumes of flat steel dropped to 88 from 110 in October 2019.

Expressed in days of shipments, stocks at steel service centers reached 57 days in October 2020, down from 71 in October 2019.

Although shipments rose compared with October last year, shipments by steel service centers dropped 14% on the year in January-October.

Stockholders’ distribution of multi-product and proximity steel — including long steel products — was 11% lower in January-October, and fell 2.3% year on year in October. Only strip products experienced an upward trend, according to EUROMETAL.

Expressed in days of shipments, stock volumes of multi and proximity steel dropped to 66 days of shipments in October from 71 in October 2019. Stock volumes were at 83, down from 91 October 2019.

— Laura Varriale