Steel product sales in the German distribution and stockholding system rose 5.6% year over year to 863,963 mt in March on restocking, as inventories fell 4.7% to 1,886,182 mt , data from German steel stockholders’ association BDS showed April 24.
Sales of long steel products fell to 250,858 mt in March, from 254,763 mt in the same month last year, while flat sales increased to 533,267 mt from 496,755 mt. Other steel products climbed to 79,838 mt from 65,948 mt.
Stocks of long steel products fell last month to 659,410 mt from 646,239 mt reached a year ago, while inventories of steel flat products decreased to 1,189,091 mt from 1,288,941 mt. Other steel products dropped to 37,681 mt from 44,353 mt.
In March Germany produced 3.1 million mt of steel products, falling 11.7% year over year, the third consecutive month of double-digit decline for the country’s steel industry. Germany’s blast furnace steel producers registered the biggest drop in output, down 14.8% year over year to 2.1 million mt. Steel producers using electric arc furnaces produced 3.5% less crude steel in March at 1.1 million mt.
Platts, part of S&P Global Commodity Insights, assessed hot-rolled coil in Northwest Europe at Eur640/mt ($728/mt) base ex-works Ruhr March 31, up from Eur560/mt at the start of the year, with mills cutting production to sustain higher prices.
Platts assessed HRC in Northwest Europe at Eur655/mt EXW Ruhr April 23, up Eur5 day over day, and in Southern Europe at Eur625/mt EXW Italy, stable over the day.
