Brazil's crude steel output up in first 2 months

Friday, March 17, 2017

Brazilian crude steel production rose 9.5% year-on-year to 5.40Mt in January-February, according to data from local steel industry association IABr.

But domestic steel sales in the period fell 1.2% year-on-year to 2.48Mt, the association said. Steel exports totaled 2.44Mt, generating revenue of US$1.12bn, up 19.4% and 51%, respectively.

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Imports grew 91.7% to 370,000t.

Apparent domestic steel consumption was 2.8Mt, up 5.5% from January-February 2016.

Home to steelmakers such as Gerdau, Usiminas and CSN, Brazil is Latin America's biggest steel producer.