According to data from Brazil's National Institute of Steel Distributors (INDA), sales of sheet products in Brazil in December 2024 were 249,400 tons, a decrease of nearly 16% month-on-month and 5.4% year-on-year.

Due to the depreciation of the Brazilian real against the US dollar, importers delayed customs clearance procedures in the hope of a favorable exchange rate in the future, resulting in a decline in Brazilian sheet metal imports. Imports of sheet metal in December were 123,500 tons, a decrease of 40% month-on-month and 55.4% year-on-year.

In addition, dealers have made purchases in advance to avoid local steel producers raising prices in January 2025. The procurement volume of the distribution chain related to INDA decreased by 4.5% to around 282,000 tons, while the inventory level increased by 3.3% to roughly 1 million tons, equivalent to 4.1 months of consumption.