Brazil’s domestic sales of steel in October declined 23.5 percent year-on-year, to 1.5 million mt, reflecting the country’s still weak market conditions, according to data from the nation’s steel institute, IABr.
According to the local steel association, Brazil crude steel production in October reached 3 million mt, 2.3 percent down year-on-year, while finished steel production in the same period diminished 14.2 percent year-on-year, to 1.9 million mt.
IABr said Brazil’s apparent steel consumption in October fell 26.4 percent year-on-year, to 1.7 million mt.
Despite the challenging domestic scenario, with increased imports of steel from China and lower domestic sales, the nation’s steel industry was able to diminish imports volumes in October, while increasing exports.
According to IABr, Brazilian imports of steel in October reached 192,000 mt, down from 334,200 mt in the year prior, while exports improved to 1.2 million mt, from 1 million a year ago, with revenues reaching $499 million in October.
According to IABr’s data for the accumulated period of January to October, Brazil’s domestic sales of steel declined 15.2 percent, year-on-year, to 15.7 million mt, while exports in the same period rose 44.3 percent in volume to 11.3 million mt and 2.3 percent in revenue to $5.7 billion.
Crude steel production in the January-October period declined 1.3 percent, year-on-year, to 28.2 million mt. Following the same downtrend, finished steel output reduced 8.8 percent, year-on-year, to 19.3 million mt.
Apparent steel consumption and imports in the ten-month period declined 15.2 percent and 14.8 percent, year-on-year, to 18.6 million and 3 million mt, respectively.