Low demand for flat steel in the Brazilian domestic market caused the nation’s steel distributors segment to cut about 11 percent of its workforce in 2015.
According to the Brazilian steel distributors association, Inda, the segment employed 101,100 people by May this year, an 11 percent decline when compared to the 120,400 job positions the industry had in December 2014.
According to Inda, the decline in job positions at the nation’s steel distribution segment fell 17 percent in the last 30 months.
Earlier this week, Inda’s president, Carlos Loureiro, said Brazil has already reached the “rock bottom”. “It’s hard to [see sales] decline even more. Maybe it could happen in December, when we historically have a weaker performance,” the executive forecast.
Sales of flat steel from Brazilian distributors declined 19.5 percent in June, year-on-year, and 4 percent, month-on-month, according to data released recently by Inda.