Brazilian sales of flats by local distributors in July declined 1.8 percent, year-on-year, the nation’s steel distributors association, Inda, said on Tuesday.
According to Inda, distributors sales of flats in July totaled 250,800 mt, 4.1 percent down, month-on-month.
Purchase of flats by local distributors in July rose 3 percent, year-on-year, but fell 10.1 percent, month-on-month, to 223,800 mt.
Inventories rose 0.7 percent in July, month-on-month, to 871,800 mt, thanks to a recounting of stocks by local distributors. Inventory turnover rose from 3.3 months in June to 3.5 months in July.
Brazilian imports of flat steel by local distributors in July increased 35.8 percent, month-on-month, totaling 39,200 mt, but declined 73.6 percent, year-on-year.
As for August, local distributors expect both sales and purchase of flats to rise 2 percent on a month-on-month basis.