Brazil’s January crude steel production increased 7.7 percent, year-on-year, but fell 1 percent month-on-month to 3 million mt, according to data released by the nation’s steel institute IABr.
According IABr, Brazil’s finished steel production in the first month of the year reached 2.1 million mt, up 0.9 percent, year-on-year, but down 13.4 percent month on month.
Flat and long steel production in the month reached 1.2 million mt and 781,200 mt, respectively. Flat steel production increased 10.4 percent year-on-year, but fell 11.3 percent month-on-month. Long steel production decreased both year-on-year and month-on-month by 11.7 and 17 percent, respectively, IABr noted.
Brazil domestic sales of steel decreased 8.5 percent to 1.6 million mt, year-on-year, and 9 percent month-on-month.
“Despite adverse conditions in the global market, steel exports in January 2015 reached 1.1 million mt at $681 million, a 32.9 percent increase in terms of volume and 11.3 percent in terms of value due to, among other factors, to the restart of a high furnace, whose production was directed to [the] export market,” IABr said in a statement.
Brazil’s apparent consumption in the first month of the year was 2 million mt, 4 percent down compared to the same month of the previous year.