The Brazilian steel industry should invest $8 billion between 2021 and 2025, a media report by Valor said.
According to Marco Polo de Mello Lopes, president at the Brazilian Steel Association, IABr, steel supply has already been normalized with domestic steelmakers producing above the levels seen before the pandemic.
The industry’s capacity utilization is currently at 73.5 percent, he said.
Lopes forecasted Brazil’s crude steel output this year to reach the highest level so far in the segment’s history. Additionally, apparent steel consumption and domestic steel sales should reach the highest level since 2003, he said.
“We’re confident with the economy because vaccination has increased (in Brazil) and domestic steel demand is steady,” he said.