Brazil crude steel output slips in Jan-Oct

Tuesday, November 29, 2016

Brazilian crude steel production slipped 9.2% year-on-year to 25.6Mt in January to October, according to data from local steel industry association IABr.

Crude steel output in October fell 8.8% year-on-year to 2.72Mt, IABr said in a release.

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The volume of domestic steel sales in the first 10 months slipped 11.1% to 13.9Mt, IABr said. Steel exports totaled 11.0Mt and US$4.54bn, down 2.3% and 19.9%, respectively.

Imports slumped 51% to 1.45Mt.

Apparent domestic steel consumption was 15.3Mt, down 17.6% from January-October 2015.

Home to the likes of Gerdau, Usiminas and CSN, Brazil is Latin America's biggest steel producer.