According to the most recent data provided by the Brazilian National Institute of Steel Distributors (INDA), flat steel sales witnessed a 2.6% increase in December 2023 compared to the same period in 2022, reaching a total of 263,600 tons. However, on a monthly basis, there was a remarkable decline of 19.7%.
Throughout the month, the purchases of flat steel products showed a notable 12.8% annual growth, reaching a volume of 273,800 tons. In contrast, compared to the previous month, these purchases experienced a decrease of 19.8%.
Over the entire year of 2023, flat steel sales demonstrated a 1.9% increase compared to 2022, totaling 3.8 million tons. Simultaneously, purchases experienced a 3.5% annual growth, reaching a volume of 3.86 million tons.
Looking ahead to 2024, INDA stated that a 3% growth is expected while attributing this growth to the performance of the automotive and machinery sectors, which represent a third of the market.
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