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4-Traders Homepage  >  Equities  >  Bolsa de valores de Sao Paulo  >  Companhia Siderurgica Nacional    CSNA3   BRCSNAACNOR6

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Brazil Flat Steel Inventories Fell To 1.02 Million Tons In March -Sindisider

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04/25/2012 | 11:11pm CET

Inventories of flat steel products in Brazil fell to 1.02 million metric tons in March, 14.7% lower than a year earlier, steel distributors association Sindisider said Wednesday.

The inventories fell to the equivalent of 2.7 months' sales, said the association, which is linked to national steel distributors institute Inda. Steel distributors' sales, however, also fell by 0.9% from the year-earlier period, to 379,300 tons, Sindisider said.

Brazilian flat steel inventories soared to the equivalent of more than 4 months of sales in 2010, when imports surged into Brazil, attracted by local market growth, high steel prices in Brazil and the strong real. The price premium in the domestic market has since fallen to about 5% over the price of imported steel as local mills have reduced prices to compete.

After a decline in steel import levels in 2011, imports are now, however, rising again, according to Sindisider's figures. Imports grew to 149,400 tons in March, up 11.3% on March 2011, and have risen 18.4% in the first quarter of the year, Sindisider said.

"The sector already feels the effects of the increase in imports, with a fall in sales" of products produced by Brazilian steel mills, said Sindisider President Carlos Loureiro. "Given this scenario, we expect a fall in April, of about 10%, in both distributors' purchases and sales."

-By Diana Kinch, Dow Jones Newswires, Tel: 55 21 2586 6086, diana.kinch@dowjones.com

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Financials ( BRL)
Sales 2016 16 900 M
EBIT 2016 2 114 M
Net income 2016 -1 035 M
Debt 2016 25 229 M
Yield 2016 -
P/E ratio 2016 -
P/E ratio 2017
EV / Sales 2016 2,47x
EV / Sales 2017 2,29x
Capitalization 16 595 M
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Mean consensus UNDERPERFORM
Number of Analysts 12
Average target price 6,62  BRL
Spread / Average Target -45%
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Benjamin Steinbruch Chairman & Chief Executive Officer
Paulo Rogério Caffarelli Principal Financial Officer
Fernando Perrone Independent Director
Yoshiaki Nakano Independent Director
Antonio Bernardo Vieira Maia Independent Director
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