The Brazilian production of crude steel has reached 2.774 million mt in November 2024, 1.9 percent more than in November 2023, according to the Brazilian steel institute, IABr.
On a comparative basis, the production of rolled products increased by 6.2 percent to 1.927 million mt, with the production of flat products declining by 5.2 percent to 1.006 million mt and the production of long products increasing by 22.3 percent to 922,000 mt.
Similarly, domestic sales of steel products increased by 10.2 percent to 1.763 million mt and the apparent consumption of steel products increased by 8.9 percent to 2.159 million mt, while exports declined by 47.5 percent to 501,000 mt and imports increased by 8.7 percent to 387,000 mt.
Considering the first eleven months of 2024, on a yearly basis crude steel production increased by 5.6 percent to 31,168 million mt, domestic sales increased by 8.7 percent to 19.600 million mt, exports declined by 18.5 percent to 8,900 million mt, imports increased by 24.4 percent to 5.600 million mt, and the apparent consumption of steel products increased by 9.6 percent to 24.2 million mt.
According to the president of IABr, Marco Polo de Melo Lopes, the adoption of the limit of quotas for imports of steel products at a regular import tax was important to decelerate such imports, but was not sufficient to reduce them.
In his view, the imports will increase in 2025 by 11.5 percent from 2024 to 2.3 million mt, while the domestic production should decline by 0.6 percent.