The EU’s steel service center shipments declined by 10.9pc in 2020 compared to 2019, according to the European Federation of Steel, Tubes and Metals Distribution and Trading (Eurometal).
Multi product and proximity steel stocking and distribution also declined by 8.5pc in 2020 compared to year prior. Multi product and proximity steel stocking and distribution registered at 83 days in December 2020 compared to 88 days in December 2019
In December alone, strip mill product shipments rose by 8.8pc from December 2019. Stocks at EU’s steel service centers reached 91 days this December 2020 compared to inventory levels of 114 days in the same month last year, Eurometal stated. Total steel product shipments increased by 13.5pc on an annual basis.