Brazilian steel association cuts steel output, sales forecasts

The Brazilian steel association, Aço Brasil, has revised downward its forecasts for steel production and sales on a weaker-than-expected domestic economy in the first quarter of the year.

It now expects Brazilian apparent steel consumption to increase by 4.60% in 2019, compared with the previous year, to 22.05 million tonnes, from 21.07 million tonnes, it said on Thursday April 25.
In December 2018, Aço Brasil had forecast steel use to grow by 6.20% this year, to 22.38 million tonnes.

The latest downward revision was due to weak performance of the both overall economy and the steel sector in the first quarter of 2019,...


Felipe Peroni

April 26, 2019

04:02 GMT

São Paulo