STXNEWS LATAM-Brazil's flat steel sales tumble in July

martes 19 de agosto de 2014 10:32 GYT

Brazilian steel distributors sold 6.9 percent less flat steel products in July, compared to a year earlier, the latest sign that an economic downturn is hurting demand for plates, slabs and other products, industry group Inda said on Tuesday.

Purchases from steel mills fell 10.6 percent, according to Inda, which represents steel distribution firms.

Sales of flat steel totaled 360,300 tonnes and inventory in the Brazilian market reached 1.07 million tonnes in July, equal to about three months of sales. Inda forecasts stable purchases and sales of flat steel for August. (Editing by Paul Simao)