This indicator decreased by 3.4% per year
Sales by German steel distributors in January this year increased by 73.7% compared to December 2023, reaching 807.92 thousand tons. This was reported by the German Steel Industry Shareholders Association BDS, S&P Global reports .
However, compared to January 2023, sales decreased by 3.4%. They exceeded the 2023 monthly average by 2.8%, but were 10% below the 900.3 thousand monthly tons from 2014-2021.
Flat products accounted for 535.2 thousand tons, or two-thirds of total steel sales in January 2024. Sales in this category of steel products increased by 85% month-on-month in the period under review and remained generally stable at compared to January 2023.
In January, German distributors sold 203,900 tonnes of long products, an increase of 42% month-on-month but an 11% drop year-on-year.
According to January data, there is a clear trend towards selling stocks in the German steel distribution network. Its level fell to less than 2.5 months of sales compared to 4 months in December.
In January 2024, stock levels were around 1.9 million tons, equivalent to around 70 days of sales. This is a decrease from the 75 and 77 days observed in 2023 and 2014-2022, respectively.
These numbers reflect the cautious approach of European reel buyers. They are limiting purchases and avoiding restocking in a context of expectations of lower prices and weaker demand from the construction and agricultural sectors in the second quarter.
As previously reported by Compraço, German steelmakers reduced steel production by 3.9% in 2023 compared to 2022, to 35.44 million tons. Last year, the country's laminated production was 30.64 million tons, a drop of 3.6% compared to 2022.
