Brazilian sales of flat steel by local distributors declined in January by 1 percent, year-on-year, to 239,000 mt, the country’s steel distributors association, Inda, said on Tuesday.
According to Inda, Brazilian distributor steel sales of flats in January rose 8.1 percent, month-on-month, from 221,000 mt.
Purchases of flats by local distributors in January increased 2.4 percent, year-on-year, and 23.7 percent, month-on-month, to 250,000 mt.
Flats inventory at Brazilian distributors improved 1.2 percent in January, year-on-year, totaling 911,600 mt. Inventory turnover declined to 3.8 months in January from 4.1 months in December.
Imports of flats flooded the Brazilian distributor chain in January, rising 310.4 percent, year-on-year, and 61.7 percent, month-on-month, to 124,800 mt.
The association said it expects both purchases and sales of flats to decline 10 percent, month-on-month, in February.