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Financial News: BRAZIL: Flat Steel Sales Expected To Drop 1.5%

BRAZIL: Flat Steel Sales Expected To Drop 1.5% To 2% This Year

10/24/2017 - 18:57:00 (RTTNews)

(RTTNews) - Sales of flat steel by Brazilian distributors are expected to fall by 1.5% to 2% this year compared to 2016, said Carlos Loureiro, the chairman of Brazil's National Institute of Steel Distributors (Inda).

According to him, however, there is the possibility of sales improving by the end of the year. In that scenario, the sales volume would remain nearly stable compared to 2016. A few months ago, Brazil's INDA projected a 5% drop in sales by the end of 2017.

"There is a global feeling of a slight market recovery, with improvements in capital goods and the demand for agricultural machinery and the automotive industry," Loureiro noted.

According to him, even September, which recorded a 12% drop in sales compared to August, can be considered a positive month for the sector.

"Despite the monthly fall, it was the month with the best daily sale of the year," he added.

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