The Brazilian production of crude steel has reached 3.075 million mt in October 2024, 16.2 percent more than in October 2023, according to the Brazilian steel institute, IABr.
On a comparative basis, the production of rolled products increased by 16.1 percent to 2.118 million mt, with the production of flat products increasing by 21.5 percent to 1.193 million mt and the production of long products increasing by 9.9 percent to 925,000 mt.
Similarly, domestic sales of steel products increased by 16.7 percent to 1.875 million mt and the apparent consumption of steel products increased by 20.0 percent to 2.4 million mt, while exports declined by 34.8 percent to 711,000 mt and imports increased by 41.3 percent to 598,000 mt.
Considering the first ten months of 2024, on a yearly basis crude steel production increased by 6.0 percent to 28.394 million mt, domestic sales increased by 8.5 percent to 17.800 million mt, exports declined by 15.5 percent to 8.400 million mt, imports increased by 25.8 percent to 5.200 million mt and the apparent consumption of steel products increased by 9.7 percent to 22.0 million mt.
The index that measures the confidence of the CEO’s of the steel industry (ICIA) declined by 4.2 points in November from October, after four consecutive months of increases, reaching 59.6 points, still remaining above the mark of 50 points that divides pessimism from optimism.
According to IABr, the index reflects optimism of the CEO’s with the current situation of the economy, and for the perspectives for the next six months.