INDA: Brazil's domestic sales of flat steel fall in April, expected weaker year of 2023
2 Jun 2023 15:09 reported by Raul Lee
According to Brazil's National Institute of Steel Distributors (INDA), the domestic distributors' sales of flat steel reached 301,100 tons in April, down by 18.7% from 370,300 tons in March. In a year-on-year comparison, the decrease was 0.5%.
The drop in sales was due to the fact that April had fewer working days than March and also a weaker market. In addition, during the month of April, there was also a price increase by steel mills, which was around 5%.
According to Carlos Loureiro, INDA's president, in the second half, the situation could worsen, with most plants ending their maintenance periods and returning to full production.
At the beginning of the year, Loureiro expected the sales to grow 3% in 2023, but now he expects it would be 0% or ranging from 1% to -1%.
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