According to data from Brazilian steel institute IBS, flat steel sales in Brazil dropped by 24% YoY in November to 1.3 million tonnes as compared to the same month last year. However, in the January to November 2008 period, sales of flat steel were up by 10.4% YoY to 20.8 million tonnes.
Meanwhile, exports plunged by 44.1% YoY to 448 million tonnes in the recent month as compared to November 2007. Revenues were down by 13.8% YoY to USD 442 million in November 2008, while in the first 11 months of 2008, export revenue increased by 22.5% YoY to USD 6.8 billion.