Brazilian flat distributors sales in February fell 8.1 percent, year-on-year, but rose 1.9 percent, month-on-month, to 284,600 mt, local steel distributor association, Inda, said on Tuesday.
According to Inda, purchases of flats by Brazilian distributors in February year increased 27.9 percent, year-on-year, and 3 percent, month-on-month, to 306,200 mt.
The Brazilian flat steel distributors association said inventory in the second month of the year reached 839,700 mt, 2.6 percent up, month-on-month.
Inventory turnover in February grew to 3 months, from 2.9 months in January.
Inda said flat steel imports by Brazilian distributors in February dropped 31.2 percent, year-on-year, and 39 percent, month-on-month, to 64,800 mt.
Inda estimated both the purchase of flats by local distributors in March to remain stable as compared to February, on a month-on-month analysis.