It is learned that Brazil’s flat steel stock surged by 17.4% in July compare to the same month last year. If compare to this June, the stock was raised by 2.4% to 1.131 million ton. According to National Institute of Steel Distributors (INDA), the increase of inventories is due to distributors increased their purchases of flat steel by 25% in July before the new increased prices announced by the steelmakers in the beginning of August. On the other hand, despite of the devaluation of the Brazilian real against USD, steel imports in July rose 31.6% over the same month last year and 109.4% over this June. However, the annual imports till now was down by 20% if compare to same period last year, around 806,200 tons.
Source:
http://www.yieh.com/2.2.01.01stainlesssteelnews.aspx?no=65969&division=A2
