Sales of flat steel by Brazilian distributors in July declined 29.1 percent, year-on-year, and 1.2 percent, month-on-month, to 255,400 mt, according to the country’s steel distributors association, Inda.
Purchases of flat steel in July reached 217,300 mt, down 41.3 percent, year-on-year, and 8.2 percent, month-on-month, Inda said, adding it expects more “stable” sales and purchases in August.
Inventories in July diminished 3.6 percent, month-on-month, to 1 million mt, while stocks turnover fell from 4.1 months in June to 4 months in July. Likewise, imports declined 29.4 percent, year-on-year, to 148,700 mt, and 15.8 percent, month-on-month.
In the accumulated period of January to July, steel purchases by distributors reached 2.02 million mt, down 19 percent, year-on-year. Following the same downtrend, sales of steel by Brazilian distributors fell 20.1 percent, year-on-year, to 2.06 million mt. Imports reduced 2.7 percent in the same period to 1.13 million mt.
Due to the weakening of the prospects for the nation’s steel market, Inda has revised once again its estimates for the decline in steel sales this year from a 12 percent to 22 percent.