Steel products shipped by steel service centers in the EU declined by 20.3pc through the first seven months of the year compared to the prior-year period, according to the European Federation of Steel, Tubes and Metal Distribution and Trading (Eurometal).
In a news release, the agency indicated that strip mill product cargos fell by 11.8pc in July from a year ago. It can be deduced that the market is gradually recovering because shipments decreased by 16.5pc on an annual basis in June.
July saw an equivalent of 71 shipments days from 72 days in July 2019. In July 2020, the agency’s stock volume index stood at 97, falling from 114 in the same month of 2019.
EU multi-product and steel proximity distribution:
In the first seven months of 2020, most product segments, save for steel rebar, which increased, recorded annual declines. All shipping categories collectively dropped by 13.8pc during the period.
In July, there were 79 days of shipping, one day more than in July 2019. The stock volume index was quoted at 87 in June 2020, which declined from 99 a year earlier.