According to the latest report issued by the association of European steel and metal distributors EUROMETAL, in the first five months of the current year steel shipments to end-user segments by European flat steel service centers (SSCs) decreased by 22.8 percent year on year. In May, strip mill product shipments declined by 38.5 percent year on year, while they had decreased by 50.8 percent year on year in April.
The negative trend in SSC shipments was accompanied by higher SSC stock indices. When expressed in days of shipments, stocks at EU-based SSCs reached 102 days in May this year, compared to 70 days in May 2019.
In the first five months this year, sales by multi-product and proximity steel stockholding distributors were lower for almost all products of their portfolios. Only rebar shipments were higher. In the first five months, total shipments dropped by 13.6 percent year on year. In May alone, all steel product shipments by the distributors decreased by 32.9 percent year on year.
Expressed in days of shipments, stock volumes of multi-product and proximity steel stockholding distributors amounted to 97 days of shipments in May this year, compared to 76 days in May 2019.