Steel sales in Germany decreased by 8.9% m/m in May

In May 2024, sales of steel products by German distributors decreased by 8.9% compared to the previous month to 770.91 thousand tons. Compared to May 2023, the figure decreased by 4%. This is evidenced by data from the BDS industry association, Eurometal reports.

Sales of flat products for the month amounted to 469.92 thousand tons, down 8.6% compared to April and 6.5% compared to May last year, long products – 238.56 thousand tons (-7.4% m/m; -0.3% y/y). Sales of other types of steel amounted to 62.43 thousand tons, down 16.4% m/m and 2.2% y/y.

In May, total stocks of steel products held by German distributors decreased by 5% m/m and 3.7% y/y – to 1.92 million tons. In particular, flat products decreased by 5.3% m/m, but increased by 2.3% y/y – to 1.24 million tons, long products decreased by 4.2% m/m and 13.2% y/y – to 633.14 thousand tons, and other products decreased by 7.4% m/m and 9.7% y/y – to 42.59 thousand tons.

As GMK Center reported earlier, in May 2024, German steelmakers reduced steel production by 1.9% compared to the same month in 2023, to 3.19 million tons. Compared to the previous month, the figure fell by 2.9%. Rolled steel output for the month decreased by 3.4% y/y and 3% m/m – to 2.65 million tons.

In 2023, the country reduced steel production by 3.9% compared to 2022 to 35.4 million tons, ranking 8th in the world ranking of producing countries.