Brazil sales of flat steel by local distributors fell 5 percent in March, year-on-year, but rose 20 percent, month-on-month, to 291,400 mt, the nation’s steel distributors association, Inda, said on Tuesday.
According to the association, purchases of flat steel by local distributors in March declined 10.5 percent, year-on-year, but rose 29.7 percent, month-on-month, to 291,800 mt. Inventories reached 906,800 mt in March. Inventory turnover declined to 3.1 months in March from 3.7 months in February.
Flat steel imports by Brazilian distributors dropped 65.3 percent in March in the year-on-year basis to 50,500 mt. On the other hand, imports surged 107.6 percent in March, month-on-month.
As for April, Inda expects both sales and purchases of steel by local distributors to diminish 7 percent, month-on-month.
Inda’s president, Carlos Loureiro, said ArcelorMittal has announced a 12-13 percent hike in steel prices, effective on May 1.