Germany’s crude steel production rose by 22.1pc to 3.78mn mt in March, compared to 3.10mn mt in the prior month, according to data released by the German steel federation WV Stahl on Apr 22.
Despite surging COVID-19 infection rates, domestic steel producers raised output in response to rebounding local steel consumption, from both the construction and manufacturing sectors and historically low national steel inventories.
Inventories of flat-rolled steel products at German stockholders fell for the eighth consecutive month in March due to relatively tight global supply chains, according to German steel stockholders’ association BDS data on Apr 21.
Stocks fell by 2.4pc from February to 1.05mn mt in March, reaching the lowest point since records began 33 years ago, while long steel stocks increased for the third consecutive month to 815,606 mt, up by 2.9pc from the prior month.