Brazilian sales of flat steel by local distributors declined 11 percent in February, year-on-year, to 242,900 mt, but rose 0.6 percent in the month-on-month basis, the nation’s steel distributors association, Inda, said on Tuesday.
Purchases of flat steel by local distributors in February diminished 21.1 percent, year-on-year, and 7.9 percent, month-on-month, to 224,900 mt.
Imports by local distributors in February declined 19.9 percent, month-on-month, and 86.3 percent, year-on-year, to 24,300 mt.
Inventories in February declined 1.9 percent, month-on-month, reaching 906,400 mt, while stock’s turnover diminished to 3.7 months in the second month of the year from 3.8 months in January.
Inda’s president, Carlos Loureiro, said Brazil flats steelmaker Usiminas has announced a 10 percent increase in steel prices, effective on April 1, while Companhia Siderurgica Nacional (CSN) plans to impose a 10-12 increase on steel prices, effective on April 6. ArcelorMittal is expected to hike steel prices as well, according to a media report.
Inda said it expects both sales and purchases of steel by local distributors to rise 4 percent in March when compared to February.