Brazilian flat steel sales by local distributors in July declined 24 percent, year-over-year, and 12.8 percent, month-over-month, to 261,400 mt, the flat steel distributors association, Inda, said on Tuesday.
Purchases of flat steel products by distributors in July dropped 6.6 percent, year-over-year, and 14.8 percent, month-over-month, to 295,900 mt. Flat steel inventory in July rose 4.4 percent, month-over-month, to 820,200 mt. Inventory turnover increased to 3.1 months, from 2.6 months in June this year.
Brazilian imports of flat steel products by local distributors in July improved 181.9 percent, year-over-year, but decreased 6.5 percent, month-over-month, to 211,300 mt.
Inda estimated purchases of flat steel products by distributors in August to decrease 2 percent, while sales of flat steel products in the same period are expected to decline another 1.9 percent, both on a month-over-month basis.