According to the latest report issued by the association of European steel and metal distributors EUROMETAL, in the first half of the current year steel shipments to end-user segments by European flat steel service centers (SSCs) decreased by 21.8 percent year on year. In June, strip mill product shipments declined by 16.5 percent year on year, while they had decreased by 38.5 percent year on year in May.
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 84 days in June this year, compared to 79 days in June 2019.
In the first six 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 six months, total shipments dropped by 13.1 percent year on year. In June alone, all steel product shipments by the distributors decreased by 10.2 percent year on year.
Expressed in days of shipments, stock volumes of multi-product and proximity steel stockholding distributors amounted to 81 days of shipments in June this year, compared to 83 days in June 2019.