Brazilian sales of flat steel by local distributors in May fell 12.4 percent, year-on-year, to 241,000 mt, the country’s steel distributors association, Inda, said on Tuesday.
According to data from the Brazilian steel distributors association, sales of flat steel products in May rose 12.8 percent, month-on-month, from 213,700 mt in April this year.
Inda said purchases of flat steel products by Brazilian distributors in May diminished 7.7 percent, year-on-year, but increased 4.6 percent, month-on-month, to 231,400 mt.
Inventories at local distributors dropped 1 percent, month-on-month, reaching 949,500 mt. Inventory turnover in May declined as well to 3.9 months, from 4.5 months in April.
Imports of flat steel by the local distributors in May grew 116 percent, year-on-year, and 53.5 percent, month-on-month, to 111,900 mt.
Inda estimated purchases of flat steel by Brazilian distributors in June to decline 5 percent, month-on-month, while sales of flats should remain stable.