Total February sales were down slightly compared to the 836,149 mt sold in January, indicating steady restocking activity in Europe.
Within this figure, monthly sales of long products decreased by 10.9% y-o-y to 245,262 mt, while sales of flat products decreased by 2.7% compared to the previous year and amounted to 529,054 mt.
Total February sales averaged 825,630 mt/month in 2022 and averaged over 707,808 million in Q4 2022.
Stronger demand and customer inventories were also evident in the monthly steel inventories, which decreased by 13.0% y-o-y to 1.981 million, according to the data.
Inventories also averaged 2.18 million mt/month in 2022 and below an average of 2.054 million mt in the fourth quarter.
Meanwhile, February inventories increased by 0.6 percent from 1.969 million mt in January, and both longs and flats increased by 748,959 mt, up 1.188 million mt on a m-o-m basis.
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