The Brazilian steel association, IABr, forecasted local steel sales in 2018 to increase 4.1 percent, year-on-year, to 17.4 million mt.
Apparent steel consumption should rise 4.9 percent in 2018, year-on-year, to 20.1 million mt, IABr forecasted, adding that the improved outlook for next year is due to increased flats demand by the local automotive industry and some recovery in the local civil construction segment.
IABr also said the growth of the Brazilian economy is still weak and “not enough” to help the local steel segment to recover from its worst crisis ever. Domestic sales in 2017 are expected to rise 1.2 percent, year-on-year, while output in the same period is expected to increase 9.2 percent, year-on-year, to 34.1 million mt. The association did not provide estimates for crude steel output for next year.