In Germany, the slowdown in industrial production and weak demand weighed on the market, with the July total down 6.5% compared to 829,612 mt sold in June.
Germany's industrial production decreased for the second month in a row in June, down 1.5 per cent m-o-m, worsening from the previous month's 0.1 per cent decrease.
Looking at overall sales figures, monthly long product sales decreased by 6.4% y-o-y to 244,917 mt, little changed from the previous month. Monthly flat product sales were reported at 476,850 mt, up 3.9% y-o-y but down 9.1% m-o-m.
Weak demand from stockists was also reflected in monthly steel inventories, which decreased by 11.8% y-o-y to 2 million mt. Long product inventories were reported at 684,005 mt, down 14.3% y-o-y and 2.1% m-o-m, while flat product inventories were reported at 1.29 million mt, down 10.7% y-o-y but up 5.9% m-o-m.