BRAZIL: Steel Distributors May Increase 2018 Domestic Sales Growth Estimate

(RTTNews) - The Brazilian Institute of Steel Distributors (Inda) estimates that steel sales in the country can grow more than the initial projection of a 5% increase in 2018.

"If the first two months confirm a good growth, this 5% projection should be behind us. We are going to grow 7% to 8% this year, but we should wait a little longer to review the projections officially," said Inda's chairman, Carlos Loureiro.

January data already surprised by showing an 18.8% sales increase compared to the same month in 2017, and of 24.4% compared to December, with sales of 283.8 thousand tons. For February, Inda foresees a 15% drop in sales compared to January, due to the reduced number of business days in the month, but there will be growth compared to February last year.

Loureiro believes in a positive year for the steel industry and steel distributors even without the approval of the pension reform and the electoral year. For him, the scenario could only change if a candidate with a profile against reforms and the market emerged in the lead.