Brazilian flat steel distributors’ sales rose by 19.4pc to 344,000mt in July from the same month last year, on higher demand.

 

Purchases of flat steel products also increased by 14.5pc to 316,700mt last month, according to Brazil’s National Institute of Steel Distributors (Inda), a local media outlet reported without disclosing figures from last year.

 

Flat steel imports, on the other hand, fell by 22.9pc to 74,950mt in July compared to the same month last year. Flat steel inventory declined by 3.2pc to 828,200mt in July, over the prior-year period.

 

In April, Inda said that during the first half of the year, flat steel sales were expected to drop by 35pc due to lower demand of the automotive industry caused by the COVID-19 pandemic. However, in Wednesday’s report, the institute expects Steel sales to increase by 3pc this year.

 

Brazil’s crude steel production saw an uptick of 3.5pc to 2.59mn mt in July this year from 2.50mn mt in the same month last year.

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