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Brazil’s steel flat product inventories down by 17% y-o-y in April
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According to Brazil’s steel distributors’ association Sindisider, Brazilian steel falt product inventories totaled 1 million tons in April, declining by 17% year on year while rising slightly by 0.2% from a month earlier.
Furthermore, Sindisider said steel distributors purchased 381.900 tons from domestic mills in April, down by 9.2% year on year; meanwhile, the imported flat steel products was 103,900 tons, a big drop of 22.5% year over year, caused by sharp depreciation of Brazil’s real against the US dollar.
In addition, Brazilian government has new measures recently to stimulate certain industrial sectors, including taxes reduction on vehicle purchases, expected to boost domestic steel consumption, according to Sindisider.
Carlos Loureiro, president of the association expected trade in flat steel in Brazil would grow by around 6% in 2012.
News Date
5/25/2012 8:30:56 AM
reported by
Raul Lee
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