German steel stocks and sales fell in August from the same month a year ago due to holidays and a weak economic performance, stockholders’ association BDS said Sept. 21.
“August was a rather poor month,” BDS said. The reasons for that are the weak economy in terms of automotive and mechanical engineering and holidays in August. “As many people have not had holidays in the Easter time and in spring or early summer, they spent their holidays in August.”
Total sales at 814,869 mt in August were lower than the 897,646 mt sold in August 2019, with falls seen in both flat and long products, BDS said.
August sales were also significantly down on the 889,096 mt sold in July 2020.
Total steel stocks held in August at 2.14 million mt were also lower than the 2.31 million mt held in August 2019, and the 2.17 million mt held in July 2020, BDS said.
However, flat products stocks rose marginally in the month of August from July, while long products stocks fell, the association said.
— Diana Kinch