Steel consumption expectations have decreased by 1% compared to 2022
The steel consumption expectations for 2023 by the Brazilian Steel Institute have decreased by 1% compared to 2022, dropping to 23.2 million tons.
The previous estimate had predicted a 1.5% increase.
According to the President of IABr, Marco Polo de Mello Lopes, the automotive sector will increase production in Brazil
In his statement, the President of IABr, Marco Polo de Mello Lopes, reported that there will be a decrease in the activities of the construction sector and the machinery and equipment sector, which are among the most important steel-consuming sectors, but an increase in production is expected in the automotive sector.
Marco Polo de Mello Lopes also added that these three sectors constitute 82% of the steel consumed in Brazil.
It is expected that crude steel production in the country will increase by 2% to reach 34.65 million tons
According to data from the Brazilian Steel Institute, it is expected that crude steel production in the country will increase by 2% to reach 34.65 million tons, metal product imports will increase by 2.5% to 3.4 million tons, and domestic sales will decrease by 0.7% to reach 20.1 million tons.
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