Brazilian flat steel distributor sales in October rose 18.3 percent, year-on-year, and 9.6 percent, month-on-month, to 317,700 mt, local steel distributor association, Inda, said on Tuesday.
Purchases of flats by local distributors in October improved 4.9 percent, year-on-year, and 22 percent, month-on-month, to 299,000 mt.
Flats inventory by local distributors in October fell 2.8 percent, month-on-month, to 698,800 mt, from 717,600 mt in September 2019, Inda said. Inventory turnover in October decreased to 2.2 months, from 3.4 months in October 2018.
Brazilian distributor imports of flat steel products in October totaled 125,900 mt, 157.8 percent up, year-on-year, and 44.8 percent up, month-on-month.
The trade group estimated the purchases of flats by local distributors in November to decrease 7 percent, while flat distributor sales in the same month will drop 15 percent, both on a month-on-month analysis.