Brazilian sales of flat steel by local distributors in November increased 11.8 percent, year-on-year, but declined 7.7 percent, month-on-month, to 293,200 mt, local steel distributor association Inda said on Tuesday.
Purchases of flat products in November grew 3.6 percent, year-on-year, but fell 6.3 percent, month-on-month, to 280,000 mt. Flats inventory by local distributors in November rose to 762,100 mt, from 698,800 mt in October this year. Inventory turnover in November increased to 2.6 months, from 2.2 months in October this year.
Brazilian flat steel imports by distributors in November reached 48,700 mt, 45.8 percent down, year-on-year, and 61.3 percent down, month-on-month.
Inda estimated the purchase of flats by local distributors in December to improve 10 percent, while flat distributor sales in the same month should drop 30 percent, both on a month-on-month analysis.