Germany’s total steel sales from stockpiles dipped by 0.61% in October as destocking from inventories continued at a slower pace, according to data published by German trade association BDS AG.
Stockpile sales increased for long and other product categories, but declined for flat products. Inventory balances continued to decline, with the exception of the “other products” category.
Sales of long products from inventories in October increased by 3,776 mt on the month to 300,482 mt. Other product sales increased by 2% to 100,376 mt.
In contrast, flat product sales from inventories decreased, falling 11,425 mt to 533,174 mt.
Total inventories fell by 13,799 mt to 2.22 million mt, and were down by 12% on the year.
Long steel stockpiles fell to their lowest since December 2018. Inventories fell 3,306 mt on the month, or 0.4%, to 830,237 mt at the end of October.
Flat steel stockpiles fell 0.8% month on month to 1.327 million mt, the lowest in three years. Stocks were 17% lower on the year.
Destocking is continuing towards the end of the year, though at a slower rate than in September.
BDS members include ArcelorMittal Distribution, Jepsen Stahl GmbH and Kloeckner & Co Deutschland GmbH.
— Charlotte Bucchioni
