According to the data from the foreign trade ministry, Brazil's imports of flat steel products dropped by 38.7% year on year to 149,990 tons in July.
In fact, the most Latin American countries' imports dropped significantly due to the Brazilian currency depreciation, high inventories in the domestic markets, and ongoing investigations in Brazil.
Imports from China dropped to 68,869 tons from 97,032 tons same period last year while imports from South Korea dropped to 15,102 tons from 24,986 tons.
In July, the country's imports of steel flat products also dropped by 13.6% from June of 173,758 tons.
In those imports, the biggest decline was the heavy plates but galvanized coil rose from the same period last year.