According to data from Brazil's National Institute of Steel Distributors (INDA), Brazil's imports of flat products in January were 241,500 tons, up 90.5% month-on-month, including heavy steel plates, hot-rolled coils, cold-rolled coils, galvanized, hot-dip galvanized, color-coated and aluminium-zinc coated steel.

The main reason for the sharp increase in imports was due to the depreciation of the US dollar against the Brazilian real. Importers cleared the materials that were previously stockpiled at the port in order to obtain a more favorable exchange rate.

Sales of flat products by Brazilian distributors reached 320,300 tons in January, up 28.4% month-on-month. 

On a comparative basis, purchases by the INDA-related distributor chain increased by 21.1% to 341,900 tons, while inventory levels increased by 2.1% to 1.036 million tons, reaching the equivalent of 3.2 months of consumption.

INDA expected Brazil's purchases and sales in February 2025 to fall by 1.0% compared to January.