Sindisider, the Brazilian steel distributors association, reported Wednesday that flat steel product inventories in the country fell 14.7 percent year-on-year in March to 1.02 million metric tons. Inventories were about 2.7 months-on-hand. Meanwhile, sales fell by 0.9 percent year-on-year to 379,300 mt.
Sindisider also said imports have been rising again, and grew 11.3 percent year-over-year in March to 149,400 mt. For Q1 2012, imports are up 18.4 percent from 2011.