German steel stocks rose to a total of 2.184 million mt in January, up 5% from 2.073 million mt in Dec. 2021, and higher than 2021’s average monthly stock level of 2.025 million mt, according to German steel stockholder association BDS data.
January’s stocks were notably higher than the 1.941 million mt reported January 2021, the data showed.
Both January long products and flat products stocks, at 741,216 mt and 1.393 million mt, respectively, were higher than in December 2021, increasing 3% and 6%, respectively.
Product sales up on month
Despite January’s higher stocks, German steel product sales also rose notably to a total of 857,602 mt, according to BDS data. This compared to sales of 633,653 mt in December 2021. However, January’s total was still lower than the average 2021 monthly sales of 885,549 mt, the association reported.
January sales were also down on the year from the 910,589 mt total sales seen January 2021.
Long product sales in January stood at 261,535 mt, up from 171,545 mt in December 2021, while January flat product sales of 517,865 mt jumped from 388,645 mt the month prior, BDS said.
— Diana Kinch