Brazilian sales of flat steel by local distributors in October declined 24.6 percent, year-on-year, but rose 13.1 percent, month-on-month, to 279,500 mt, according to data released this week by the nation’s distributors association, Inda.
According to Inda, most flat products experienced a decline in sales with the exception of Galvalume, whose sales in October rose 20.2 percent, year-on-year, to 25,600 mt, according to detailed information provided to SteelOrbis by Inda. Sales of other products in October, such as slab and heavy plates, diminished 83.3 and 60.6 percent, year-on-year, respectively.
Purchases of steel by local distributors in October declined 28.6 percent, year-on-year, to 260,400 mt, but rose 13.5 percent in the month-on-month comparison.
Inventoryturnover in October reached 3.4 months, and 945,600 mt. The volume of inventories is 9.3 and 2 percent lower when compared to last year’s and September’s data, respectively.
Apparent steel consumption in October declined 20.6 percent, year-on-year, to 756,800 mt, but rose 2.3 percent, month-on-month.
Inda said in the accumulated period of January to October, purchases of flat steel by local distributors reached 2.7 million mt, 23.3 percent down, year-on-year. Sales in the same period declined 22.6 percent, year-on-year, to 2.8 million mt. Apparent steel consumption in the Jan-Oct period diminished 16.9 percent, year-on-year, to 8.3 million mt.
As for November, Brazil distributors expect purchases to reach 247,400 mt, while sales of flat steel is expected to reach 265,500 mt in November. Inventories turnover is believed to rise to 3.5 months, from 3.4 months in October, according to Inda’s projections.