Apparent steel consumption in 2021 should increase in Brazil, a top executive at integrated steelmaker Gerdau said during the virtual Alacero conference, held this week. Gustavo Werneck, CEO of integrated steelmaker Gerdau, said apparent steel consumption in Brazil next year is forecasted to increase between 6 to 8 percent.
“There’s a big optimism in the short term. It’s a V-shaped recovery, which will continue until the end of Q1 next year,” the executive said.
As for the long-term, Werneck said he sees reasons for concern. Despite the efforts by the Brazilian government to boost demand, with projects in areas like sanitation, there are still structural challenges to be met in Brazil.
“There are still difficulties that need to be addressed. I think the government still has conditions to accelerate structuring reforms to create demand in the long-term,” he said.