Germany’s steel industry has encountered a downturn in both sales and stock levels in May, as reported by the BDS sales and stockholder association. The data indicates a 4% year-on-year decrease in steel product sales within the German distribution and stockholding system, totaling 770,914 metric tons. This figure also represents an 8.9% drop from April’s sales. The decline is attributed to persistently low demand amidst broader economic slowdown concerns.
Additionally, steel product stocks have seen a reduction, with a 3.7% year-on-year and 5% month-on-month decrease, amounting to approximately 1.92 million metric tons. This trend reflects the cautious approach of the market in response to the current economic climate.
