Brazil's steel export revenue to increase in 2005

Brazil’s steel export revenue to increase in 2005

Brazilian steel association IBS expects the country's steel industry to increase export revenues 26.4 percent year on year in 2005. Brazil's steel industry's export revenue is expected to reach $6.7 billion in 2005 with a volume of shipment of 12.6 million tons. The shipments will increase 5 percent year on year in terms of volume. The increase in finished steel products exports will help export revenue increase more than export volume. IBS indicates that the steel shipments will reach 13 million tons in 2006, but the revenues may drop on the back of decreasing global steel prices.