According to the association of shareholders of the German steel industry BDS, sales of German steel products in October increased by 7.4% compared to the same period last year to 838,042 tons.
Sales also increased by 6 .7% compared to the previous month.
The majority of sales (61.1%) were in the flat products category in the amount of 511,858 tons, up 6.5% year-on-year and 10.7% month-on-month, while long steel sales rose 5.2% year-on-year and 1.8% month-on-month to 250,255 tonnes, it showed data.
Total sales for January-October amounted to 8.2 million tons, which is 0.6% higher than the previous year. Sales of flat products fell 2.5% to 5 million tons, and sales of long products rose 2.5% to 2.4 million tons.
Platts, part of S&P Global Commodity Insights, estimated domestic prices for hot rolled steel coils in Northern Europe at 550 EUR/t ex-works in the Ruhr region on November 28, 20% lower than at the beginning 2024.
Meanwhile, according to BDS, German steel inventories amounted to 1.9 million tons in October, down 2.9% year-on-year but up 0.6% month-on-month. .
In October, 65.8% of total reserves were flat products, or 1.3 million tons, which is 1.6% less. than the previous year, and 0.7% less than the previous month.
Long steel inventories in October amounted to 621,608 tons, or 32.4% of total inventories, a decrease of 4.9 % compared to the same period of the previous year, but an increase of 3.4% compared to September.
