European steel distributors association EUROMETAL tells Kallanish that European Union (EU) distribution sector sales grew and inventories reduced for both flat and long products in May and over the first five months of 2016.
Flat steel service centres saw shipments grow year-on-year by 13% in May itself and by 10% over January-May. Stocks meanwhile, expressed in days of shipments, were at 64 days at the end of May 2016 compared to 66 days in May 2015.
EU Multi-Product & Proximity Stockholding distribution, mainly involving longs, tubular products and stainless steel, noted excellent seasonal activity in long steel products, Eurometal says.
Good sales of long products in May boosted growth over the first five months of the year to an average y-o-y increase of 8 %. During the same period, shipments of tubular products and of stainless steels averaged a growth rate of 4 %.
Stocks, expressed in days of shipments, were at 70 days at the end of May 2016 compared to 81 days in May 2015.