21.02.201816:34:00UTC+00BRAZIL: Steel Distributors May Increase 2018 Domestic Sales Growth Estimate

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.