Brazilian steel industry participants meet amid weak demand, trade issues

The main participants of the Brazilian steel market will meet this week at an annual industry conference organized by Instituto Aço Brasil amid weaker-than-expected consumption rates, delayed investments and subdued prices.

Aço Brasil, Brazil’s national steel association, chose the federal capital Brasília to hold its 30th steel conference this year and top politicians are scheduled to open the two-day event, which starts on Tuesday August 20. The industry is expected to urge the government and policymakers to implement measures to strengthen the competitiveness of Brazilian steelmakers and provide stimulus for the construction and infrastructure sectors to boost steel demand. Three ministers - that for the economy, mining and the chief of staff - will take part in the conference’s first panel, while President Jair Bolsonaro is scheduled to participating in the conference on the second day. Weak demand Brazil’s gross domestic product dipped by 0.2% in the first quarter in comparison with the last three months of 2018, and some economists believe it is down once again in the second quarter - which would mean the country is experiencing a technical recession. While automotive...

Published

Felipe Peroni

Renato Rostás

August 20, 2019

08:21 GMT

São Paulo