Brazilian steel institute cuts forecasts for 2019 production, sales

The Brazilian steel association, Aço Brasil, has slashed its forecasts for steel production and consumption in 2019 following a weak performance in the first half of the year.

Steel output was now expected to reach 35.55 million tonnes this year, growth of only 0.40% from the 35.41 million tonnes produced in 2018, the association said on Thursday July 25.
This compared with the previous expectation for growth of 2.20% year on year, published in April.

“The performance of the steel sector in the first half has frustrated our expectations,” Aço Brasil executive president Marco Polo de...

Published

Felipe Peroni

July 25, 2019

18:40 GMT

São Paulo