IABr expects Brazilian crude steel output and domestic steel sales to increase in 2021

Monday, 26 July 2021 18:07:02 (GMT+3)   |   Sao Paulo

Brazilian steel association, IABr, said it reviewed its crude steel output and domestic steel sales estimates for 2021 after releasing the industry’s H1 crude steel and domestic steel sales figures, as reported by SteelOrbis.

IABr said the positive results the local steel industry reported in H1 this year resulted in an upgrade to its estimates.

According to IABr, crude steel output in 2021 is expected to increase 14 percent, year-over-year, while domestic steel sales should grow 18.5 percent, also on a year-over-year basis. Brazilian apparent steel consumption in 2021 is expected to increase 24.1 percent, year-over-year.

The updated estimates reflect IABr’s optimism regarding the industry’s rebound. IABr had previously estimated that crude steel output in 2021 would increase 11.3 percent, while domestic sales and apparent steel consumption would rise 12.9 percent, and 15 percent, respectively, all on a year-over-year basis.

IABr said the industry’s capacity utilization is currently at 73.5 percent, up from 45.4 percent a year ago.

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