European steel service center continued to see sales accelerate in October with flat steel distributors increasing shipments by 8.9% year on year according to EUROMETAL, a distribution and trading association.
The strong performance helped year to date shipments outpace 2017, with sales in the first 10 months of 2017 up 0.9% on January-October 2016. Flat steel players continued to outperform the multi-product stockholding sector,where October shipments rose 5.5% on year, but shipments for the first ten months remained down 1.7% on 2016.
While stock levels have declined, the EU service center volume index closed at 111 in October, up on the 103 in October 2016 where 100 is equivalent to the average month in 2015. Much of this higher stock is as a result of the higher demand for galvanized flat steel.
Stock volumes of EU Multi-Product & Proximity Steel Stockholding Distribution noted in October 2017 at index of 101, up from 95 in October 2016.
Expressed in days of shipments, stocks of October 2017 levelled at 68 days, down from 71 days in October 2016.
Peter Brennan, PLATTS
