Germany’s total steel sales from stockpiles declined 10.1% on the month in August, according to data published by German trade association BDS AG.
In August, long product sales from inventories fell 46,927 mt to 277,186 mt, a decline of 14.5% month on month.
Flat product sales from inventories also declined, losing 53,411 mt to 520,074 mt, a drop of 9.3% month on month.
Other product sales held relatively stable month on month, softening by 1% to 100,386 mt compared to July.
Inventory balances also declined as the destocking trend continued with total inventories dropping 98,895 mt to 2.31 million mt, a decline of 4.10% month on month and the lowest stock position since December 2018.
Long steel stockpiles declined to their lowest level since December 2018. Inventories fell 21,392 mt on the month, or 2.5% to 849,796 mt at the end of August, the data showed. They were still 4.4% lower compared to August 2018.
Flat steel stockpiles saw a stronger destocking rate, losing 4.85% month on month to 1.41 million mt, the lowest level since December 2018. They were still 10.22% lower compared to August 2018.
BDS members include ArcelorMittal Distribution, Jepsen Stahl GmbH and Klöckner & Co Deutschland GmbH.
— Len Griffin