Key carbon steel stocks in China have fallen by 4.1% since the beginning of June, indicating a trend reversal. There are also reports from manufacturing hub India of a switch to higher steel purchases. This is also reflected in the increasing imports of Chinese steel into India. In addition, steel demand is expected to grow by 7.5% in the current Indian fiscal year.

EU steel inventories lower than generally assumed?
As reported by various sources, the distributing, but also the steel processing industry is increasingly looking at significant changes in inventory levels, challenging the previous notion of high overstocks. So does also the car producers, where delivery times are now again on an uptrend and some optional equipment is not available due to raw material issues in the supply industry.

EU steel and stainless steel sector prepares for restocking
Market demand thus contradicts the notion of excess inventories, indicating a significant discrepancy between news reports and the actual inventory situation. Market participants are increasingly recognizing the growing need to restock as they become aware of the current scenario.