Brazilian flat steel distributor sales declined 14.7 percent, year-on-year, in June, according to data released on Tuesday by the country’s steel distributors association, Inda.
According to Inda, flat steel sales by Brazilian distributors in June totaled 223,200 mt, 7.4 percent down, month-on-month.
Purchase of flats by local distributors in June diminished 7.8 percent, year-on-year, and 0.8 percent, month-on-month, to 229,600 mt.
Flat steel inventory in June reached 955,900 mt, 0.7 percent up, month-on-month. Inventory turnover in June rose to 4.3 months, from 3.9 months in May.
Imports of flat steel in June surged 254.2 percent, year-on-year, but fell 8.5 percent, month-on-month, to 102,400 mt.
Inda forecasted flat steel purchases to remain stable in July, while sales of flat steel are expected to increase about 2 percent in the same month, on a month-on-month basis.