TOP STEELMAKERS 2017: Signs of optimism after tough 2016 in Latin America

In Latin America, 2016 was considered one of the toughest years – if not the most difficult – the steel industry has ever faced.

In Latin America, 2016 was considered one of the toughest years – if not the most difficult – for the steel industry.
The Brazilian steel sector went through its worst ever crisis last year, with local demand levels reaching their lowest annual volume since 2009’s 18.80 million tonnes. Apparent steel consumption amounted to 18.20 million tonnes in 2016, down 14.40% compared with 2015, according to national steel institute Aço Brasil.
Brazil’s political crisis, which resulted in the impeachment of president Dilma Rousseff at the end of August 2016, has contributed to worsening national economic conditions, affecting the country’s industrial sector.
Against this scenario, crude steel output in Brazil fell by 9.15% year-on-year in 2016, to 30.21 million tonnes from 33.26 million tonnes, Aço Brasil figures show.

Brazilian mills in Metal Bulletin’s Top Steelmakers list, such as Gerdau, Usiminas and CSN, all cut production...

Published

Ana Paula Camargo

June 06, 2017

20:07 GMT

Sao Paulo