2018.04.2416:18:00UTC+00BRAZIL: INDA May Revise Down Forecast For Steel Sales High In 2018

Brazil's National Institute of Steel Distributors (INDA) may revise down its forecast for steel sales this year in the face of a slowdown in the pace of economic growth, said the entity's chairman, Carlos Loureiro.

In the first quarter of 2018, sales rose 13.8% over the same period of the previous year. However, Loureiro believes that keeping a more than double-digit sales growth in 2018, as predicted at the end of 2017, should not be possible.

"We have had a growth projection above 10%, and now I think it is too optimistic," he said. "We are feeling this message, and we should revise the projection in May."