Brazilian flat steel sales increased by 19.20% year-on-year in August, due to better demand from the manufacturing sectors, according to figures released by local flat steel association Inda on Tuesday September 19.
Flat steel sales from distributors totalled 301,700 tonnes last month, compared with 253,100 tonnes a year earlier. Sales were also up by 13.80% from July’s level of 265,200 tonnes.
The growth was due to higher demand from industrial sectors such as automotive, truck and agricultural machinery manufacturers.
“Our figures show that the economy is recovering,” Inda president Carlos Loureiro said.
Clients have also been trying to anticipate price rises announced for August, which contributed to better volumes.
The association believes that there is a “significant chance” that flat steel sales overall in 2017 will reach the same level as in the previous year, when shipments totalled 3.04 million tonnes.
Previously, Inda expected a decrease of 5% in sales in 2017.
From January to August, flat steel sales reached 1.95 million tonnes, a drop of 5.30% from 2.06 million tonnes in the corresponding period in 2016.
In September, Inda expects sales to reach 286,600 tonnes, compared with 251,300 tonnes in September 2016.
Meanwhile, purchases from distributors reached 276,700 tonnes in August, from 264,600 tonnes a year earlier.
Inventories at distributors reached 897,500 tonnes in August 2017, or three months’-worth of sales, up by 1.60% from the same month in 2016.
source: metal bulletin |
