Steel distribution companies in Brazil sold 317,900 tonnes of
flat products in February, a drop of 13.8 percent from the prior
month, industry group Sindisider said in a report on Wednesday.
February sales were 7.5 percent below the amount sold a year
earlier. Distributors bought 8.7 percent less steel in February
from the previous month. Inventory rose 2.4 percent from
September to the equivalent of 3.1 months of sales, or 970,400
tonnes, Sindisider said.
Analysts at several banks, including BTG Pactual Group and
JPMorgan Securities, said recently that demand for both long and
flat steel products, including coated and rolled steel, remains
weak in Latin America's largest economy.