Brazilian flat steel distributors sales in March declined 15.2 percent, year-on-year, and 6.8 percent, month-on-month, to 265,300 mt, Brazilian steel distributor association, Inda, said late this week.
Purchases of flats steel products by distributors in March slightly fell 0.3 percent, year-on-year, and 11 percent, month-on-month, to 272,500 mt.
Distributors flat steel inventory in March reached 846,900 mt, 0.9 percent up, month-on-month. Inventory turnover in March improved to 3.2 months, from 3 months in February.
Flat steel imports by distributors in March decreased 52.4 percent, year-on-year, and 9.6 percent, month-on-month, to 58,500 mt.
Inda estimated both the purchases and sales of flats by local distributors in April to decline 45 percent, month-on-month. The association did not cite a reason for the sharp decline, but SteelOrbis understands it is due to the Covid-19 pandemic.