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.”