German steel sales increased by 3.53% in May, although they still fell short of the 862,807 tbars sold by BDS on the same date, according to the German steel shareholders’ association.
Specifically, financial performance for the third quarter of 2022 was lower than the average first quarter recorded at 934,772 mt. Since May, the association concluded that 282,651 mt were long products and 514,044 mt of flat products among consumer sales in the federal capital. German distributors’ stocks of steel products also increased in May, confirms the Development and Investment Bank.
“Initially the rental season had had a very low barometer already mainly because of the restrictions in the real estate market. The stock is now higher, but still low compared to other years such as 2018 or 2019,” BDS notes.
The current year May also showed an increase in average monthly stocks, which reached 2.23 million tons. Of the May stocks, 799,871 tons were long products and 1.39 million tons were flat products, BDS said.
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