Brazilian flat steel distributor sales in May dropped 15.8 percent, year-on-year, the nation’s steel distributors association (Inda) said on Tuesday.
Brazilian flat distributor sales in May totaled 203,000 mt, 9.8 percent down, on a month-on-month basis. Meanwhile, purchase of flat steel by Brazilian distributors in May decreased 3 percent, year-on-year, and 15 percent, month-on-month, to 224,400 mt.
Flat steel inventory at Brazilian distributors improved 2.3 percent in May, month-on-month, to 947,300 mt. Inventory turnover grew from 4.1 months in April to 4.7 months in May.
Flat steel imports by Brazilian distributors in May decreased 1.2 percent, year-on-year, but rose 13.2 percent, month-on-month, to 110,500 mt.
Inda forecasted both the purchase and sales of flats by local distributors to increase 15 percent in June, on a month-on-month basis.