According to a report from the association of European steel and metal distributors Eurometal, over the first seven months of this year sales of European steel stock holding distribution increased by six percent year on year. However, following the strong performance registered in Q1, sales lost momentum later. In July this year, steel sales of European steel stock holding distribution dropped by 10 percent compared to the previous month, and the decrease was mostly noted in flat steel sales.
Sales of European steel distribution |
Jul 2011/ Jun 2011 |
Q2 2011/ Q1 2011 |
Jan-Jul 2011/ Jan-Jul 2010 |
Long steel products |
-9% |
+9% |
+7% |
Flat steel products |
-11% |
-9% |
+6% |
All steel products* |
-10% |
-1% |
+6% |
The slowing of sales is also witnessed by stocks at 71 days' supply in July 2011, significantly higher than earlier in the year. Since the beginning of summer, steel stock indices are on the rise for all main product categories. This trend has to be considered against the background of lower sales activity of EU steel stock holding distribution.
Stocks of European steel distribution |
July 2011 |
June 2011 |
Long steel products |
62 days |
58 days |
Flat steel products |
70 days |
62 days |
All steel products* |
71 days |
65 days |
* Including pipes, stainless and special steel