Steel inventory in Western Europe is in for a slow recovery, according to Eurometal.
Using its Western European stockholding members’ reports, steel stocks decreased significantly this month, with deliveries at 60-65pc, compared to May 2019. Of those deliveries, 68-72pc were to Benelux (Belgium, the Netherlands, and Luxembough), 50pc to France, 78-82pc to Germany, 64-68pc to Spain, and 38-42pc to the UK.
According to the organization, recovery will be slow next month.
Around 5,000 companies in the EU are steel distributors and traders, according to Eurometal data, and supply 80mn mt of steel tubes and metals to end users across Europe, accounting for more than 60pc of steel supply to the continent’s manufacturing and construction sectors.