Brazil domestic steel sales in March declined 23.8 percent, year-on-year, to 1.5 million mt, the nation’s steel institute, IABr, said on Friday.
According to the local steel association, Brazilian steel sales diminished 23.1 percent in Q1, year-on-year, to 4 million mt.
Crude steel output totaled 2.5 million mt in March and 7.4 million mt in Q1, 9.5 percent and 12.3 percent down, year-on-year, respectively. Finished steel output in the third month of the year was 1.8 million, 18.6 percent down, year-on-year. As for Q1, finished steel production fell 17.5 percent, year-on-year, to 5.1 million mt.
Brazil’s apparent steel consumption decreased 28.02 percent in March, year-on-year, and 29.3 percent in Q1, year-on-year, to 1.6 million mt and 4.3 million mt, respectively, according IABr’s data.
Due to a weak domestic demand and the devaluation of the BRL, Brazilian imports of steel fell 50.2 percent in March, year-on-year, to 175,000 mt at a value of $151 million.
On the other hand, Brazilian steel exports in March reached 1.2 million mt at a value of $448 million, 18.5 percent up in volume, but 33.4 percent down in value, both on a year-on-year basis.