Brazilian crude steel output in November declined 4.4 percent, year-on-year, to 2.5 million mt, while domestic sales diminished 18 percent in the same period to 1.4 million mt, according to data released on Wednesday by the nation’s steel institute, IABr. Finished steel output in November was 1.8 million mt, 10 percent down, year-on-year.
Apparent steel consumption in November totaled 1.5 million mt, 22.5 percent down, year-on-year.
As both domestic demand and output have been declining, Brazilian mills are looking at the export market as a way to make additional revenue, in an attempt to compensate the current weak domestic sales.
Such a move is reflected in the country’s declining import volumes, as export volumes have increased in the past few months compared to the external purchases from mills.
In November, steel imports declined both in volume and value. Imports volumes diminished 53 percent, year-on-year, from 289,000 mt to 136,000 mt, while the amount of steel purchased overseas reached USD 159.3 million, 47.4 percent down, year-on-year.
Exports declined 5 percent in November, year-on-year, to 908,000 mt, and 39.9 percent in revenue in the same basis of comparison, reaching USD 377.4 million.
As for the cumulative period of January to November, both crude and finished steel production declined 1.6 percent, year-on-year, to 30.8 million mt, and 8.9 percent, year-on-year, to 21.1 million mt.
Sales in the same period diminished 15.4 percent, year-on-year, to 17.1 million mt. The nation’s apparent steel consumption decreased 15.8 percent, year-on-year, to 20.1 million mt. Exports in the 11-month period rose 39 percent, year-on-year, to 12.2 million mt, despite a 2 percent decline, year-on-year, in revenue, which reached US$6 billion.