Brazilian distributor sales of flat steel products in April fell 37.6 percent, year-on-year, and 37.5 percent, month-on-month, to 165,900 mt, according to a report from Brazilian steel distributor association (Inda) released Tuesday.
The association said purchases of flat steel products in April declined 20.8 percent, year-on-year, and 34.3 percent, month-on-month, to 179,100 mt.
Flat steel inventory in April rose 1.6 percent, month-on-month, to 860,100 mt. Inventory turnover in April grew to 5.2 months, from 3.2 months in March.
Flat steel imports in April dropped 37.9 percent, year-on-year, and 3.5 percent, month-on-month, to 56,500 mt.
Inda forecasted the purchases of flats by local distributors in May to decline 15 percent, month-on-month, while sales of flat steel products in the same period is expected to grow 5 percent, also on a month-on-month analysis.