Brazil's steel output down 10.2 percent in March

Brazilian steel institute IBS reported Tuesday that Brazil's crude steel production in March 2006 fell 10.2 percent from the same month of the previous year. IBS reported that Brazil's crude steel production for the month of March 2006 fell to 2.48 million mt. Long product production increased 4.5 percent from the previous year, which IBS attributes to strong demand from the construction sector. IBS cited the January accident at a plant belonging to major steel producer Cia. Siderurgica Nacional (CSN) as the reason for the drop in steel output. After the accident, CSN, the country's third largest steel producer, shut down its blast furnace and began buying slabs from competitors to maintain output. The company plans to restart production in June of this year.