Brazilian apparent steel consumption for longs to increase 6-8 percent in 2021

Thursday, 29 October 2020 21:02:35 (GMT+3)   |   Sao Paulo

Brazilian longs apparent steel consumption in 2021 should increase between 6 to 8 percent, as compared to this year, a Gerdau top executive said this week.

IABr, the Brazilian steel association, said recently apparent steel consumption this year should reach 19.9 million mt, 4.7 percent down, when compared to 2019. IABr’s latest steel figure projections indicate that despite the year-over-year decline prospects seem to have improved post-Covid-19.

Gerdau CEO Gustavo Werneck told analysts civil construction in Brazil continues to show strong demand for steel products, and such a demand should boost orders to meet Brazil’s infrastructure projects.

“We’re preparing (ourselves) to meet the short-term demand. We have a good number of orders up to early 2021,” he said.

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