The European Union’s steel service center shipments dropped by 5.5pc in the EU and the UK in January-February against the same period last year, according to Eurometal data.
Multi-product and proximity steel stocking and distribution also declined for all products except cold-rolled flats in January and February compared to the prior-year period. Multi-product and proximity steel stocking and distribution registered at 66 days in February from 70 days in the same month last year.
In February, strip mill product shipments dropped by 1.7pc annually compared to a 9.2pc drop in January 2021.
Stocks at EU’s steel service centers reached 63 days in February 2021, from 66 days in the same month last year. Total steel product shipments decreased by 4.8pc annually.