STXNEWS LATAM-Brazil flat steel sales jump in August, Inda says

Tue Sep 24, 2013 11:08am EDT

Sales of flat steel products at distribution companies in Brazil rose sharply in August from the prior month, according to the National Institute of Steel Distributors, known as Inda. Sales rose 9.6 percent from July to 424,100 tonnes, and 12 percent from the same month a year earlier, Inda said.

Inda said in a report that it expects purchases and sales of flat steel products at the distribution level to fall 5 percent in September from August.

Unwanted inventory reached 1.13 million tonnes in August, almost unchanged from July, Inda said. Unwanted inventory is now equivalent to about 2.6 months worth of monthly sales - down from 2.9 times in July, according to Thomson Reuters calculations based on the Inda data.