Monthly German steel sales reached 814,862 mt in January, down 0.9% year over year but rebounding 76.3% month over month, data from the German steel stockholders’ association BDS showed Feb. 21.
The month-over-month gain was fuelled primarily by sales of the flat steel product category which increased 80.8% from December to 508,120 mt. Despite the monthly bounce, flat steel sales were 5.1% lower year over year.
Monthly sales of long products were reported at 228,249, up 67.6% monthly and 11.9% year over year.
Other products followed a similar trajectory, increasing 76.3% monthly and 14% year over year to 78,493 mt.
Market participants surveyed by Platts point toward recent news surrounding US tariffs, and upcoming elections in Germany as increasingly bullish factors in the market. Some sources also cited stable fundamentals, arguing that demand drivers have not shifted significantly in recent weeks.
Platts assessed the Northwest European domestic HRC price at Eur605/mt ex-works Ruhr, Feb. 20, stable day over day and up Eur5/mt week over week.
Meanwhile, German steel product stocks totaled 1.895 million mt in January, rising 6.4% year over year and down 0.6% from December.
Flat products made up 63.8% of the total inventories in January at 1.209 million mt, which was 1.1% lower year over year but 8.8% higher month over month.
Long products stocks totaled 651,346 mt in January, or 34.4% of the total inventory, increasing 0.8% year over year and 2% from December.
