Brazilian distributor sales of flat steel products in July rose 4.1 percent, year-on-year, but declined 10.2 percent, month-on-month, to 276,000 mt, the nation’s flat steel distributors association (Inda) said on Tuesday.
Purchases of flat steel by local distributors in July grew 21.1 percent, year-on-year, and 5 percent, month-on-month, to 284,400 mt. Flat steel inventory at Brazilian distributors in July rose 0.9 percent, month-on-month, reaching 919,000 mt. Inventory turnover in July increased to 3.3 months from 3 months in June.
Brazilian imports of flats by local distributors in July was 111,400 mt, 5.5 percent down, year-on-year, and 12.7 percent down, month-on-month.
The trade group estimates both the sales and purchases of flats by local distributors will grow 5 percent in August, on a month-on-month basis.